The Indian bicycle industry grew at a CAGR of 17 %

April 19 World Bicycle Day

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

The Indian bicycle industry grew at a CAGR of 17 % in the period 2009-2013, presuming that growth of the industry in the last 3 to 4 years is sustained for next 4 to 5 years i.e. the time we reach the year 2018, ASSOCHAM expects the Indian bicycle industry to double and cross a mark of USD 300 crore.

ASSOCHAM believes that the industry has enormous potential to operate in a global market though challenges of quality, cost and delivery are equally large.

With many international brands are coming up with interesting designs and technology for the pedal pushers, ASSOCHAM expects boost in the sales of the bicycle industry.

The Indian bicylce industry currently employs about 10 lakh people directly & indirectly, with the inception of various schemes run by the government, soaring prices of the fuel and growing health consciousness of the people, the industry is expected to generate an additional employment of 10 lakh in the next 2 to 3 years.

The detailed analysis of the bicycle industry by ASSOCHAM reveals that the bicycle industry has bright future but the industry will come under heavy pressure due to FTAs, SAFTA and dumping from China.

Src: ASSOCHAM

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