India Second largest Producer of Bicycles in World..

World Bicycle Day April 19

Bicycle Day is April 19, commemorating April 19, 1943, when Dr. Albert Hofmann first took LSD intentionally.

India is the second largest producer of bicycles in the world after China.

India produces approximately 10 % of the world annual bicycle production. The Bicycle Industry of India is estimated at USD 150 Crore in 2013.

The number of units (finished bicycles including all segments) produced every year is around 15 million, according to an industry source. Of this, around 20-25% is exported, which points to a huge demand in the domestic market.

The Indian bicycle market broadly comprises two segments: “standards” and “specials”. Standards are the workhorses of the rural economy. These cheap and rugged bicycles have remained unchanged for decades. The specials or “fancy” segment comprises new generation bicycles, which are more expensive.

The industry is largely unorganized and very few players dominate the organized market for bicycles and its part. The industry is transforming itself from a low volume highly fragmented industry into a competitive industry backed by competitive strengths, technology and transition up the value chain.

The entry of various foreign players in the Indian market led to companies adopting innovative marketing strategies to fend competition.

Src: ASSOCHAM

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