Financial Daily from THE HINDU group of publications
Thursday, Mar 18, 2004
Financial Daily from THE HINDU group of publications Thursday, Mar 18, 2004 |
||
|
|
||
|
Industry & Economy
-
Cycles & Accessories Bicycle makers' concern over rising steel prices Our Bureau
The Delhi Chief Minister, Ms Shiela Dikshit, at the Indo Bike Expo 2004 in the Capital on Wednesday. - Ramesh Sharma
New Delhi , March 17 MAJOR bicycle manufacturers have raised their concern over the rising steel prices at the inauguration of the first-ever focussed trade show on the bicycle industry, Indo Bike Expo 2004, and urged the Government to take effective measures to safeguard the interests of the industry. Speaking on the occasion, Mr O.P. Munjal, President, All India Cycle Manufactures Association and also Co-Chairman and Managing Director, Hero Cycles Ltd, said, "Rising steel prices have led to the increase in the prices of finished products and it is difficult to pass on this cost to the consumer as the industry is facing stiff competition from cheap products being imported from China." The bike industry has been seeing stagnant growth over the past couple of years, principally due to the ease with which one can acquire an automated two-wheeler. The Delhi Chief Minister, Ms Sheila Dikshit, while speaking on the occasion hinted that designated cycle tracks would soon be established in the city. The Delhi Government is also working closely along with Delhi Police to launch the campaign to promote this eco-friendly mode of transport. "We are planning a cycling calendar and a track on which Delhi's future generation would participate. We slowly aim to bring this cultural change," she said.
More Stories on : Cycles & Accessories
Article E-Mail :: Comment :: Syndication :: Printer Friendly Page
|
Stories in this Section |
|
The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription Group Sites: The Hindu | Business Line | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |
Copyright © 2004, The
Hindu Business Line. Republication or redissemination of the contents of
this screen are expressly prohibited without the written consent of
The Hindu Business Line
|