India’s bicycle and accessories market is expected to grow at a healthy pace over the next two years on the back of rural demand, shifting consumer preference towards premium products, export demand from Africa and Europe, and government welfare schemes.
In this context, the Punjab government’s announcement last December that it would set up a “Hi Tech Cycle Valley” in Dhanansu village, Ludhiana, through the Punjab Small Industries and Export Corporation (PSIEC), is timely.
The industry is clustered in Ludhiana, Punjab, and as many as 85-90 per cent of units are SMEs that cater to original equipment manufacturers (OEMs).
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