Indian cycle industry pedaling hard to catch up with Chinese imports

08/09/2011 12:00 - 383 Views

Ludhiana: The heavy import of bicycle and its parts from China is hurting the Indian bicycle industry. Following the increase in imports by manifold, the bicycle industry in Punjab is incurring huge loss.

In this regard, the Federation of Punjab Small Industries Association has urged the Centre to impose anti-dumping duty on imports of bicycles and its parts from China.
Federation President Badish Kumar Jindal met Micro, Small and Medium Industries Ministry Secretary Uday Kumar Verma and Rahul Khullar, Secretary, Ministry of Commerce and expressed their woes in this regard.

“Import of bicycles and their parts which stood at Rs 300 crore in 2008 shot up to Rs 1600 crore in 2010,” said Jindal.

During this period, the export of bicycle and its parts have shrunk to Rs 650 crore against shipments of Rs 1,200 crore.

Punjab is the main hub of cycle industry and there are around 5, 000 units manufacturing cycles and parts. As most of the units are micro, medium or small sized, imposing anti-dumping duty becomes necessary for them.

The European Union has imposed 48.5 percent anti-dumping duty on imports of Chinese cycles and its parts.

Meanwhile, the Federation has submitted a memorandum to higher officials in this regard.

02 Sep 2011, 02:54 PM

Source: jagran.com