Hero Cycles to extend helping hand to small industrial units

Ludhiana: In wake of the tough situation being faced by the small scale bicycle and parts manufacturers, wherein their sales are not picking up and losses are mounting, Pankaj Munjal, chairman-cum-managing director of bicycle giant Hero Cycles, conducted a meeting with the small industrialists and assured them of support. Munjal also assured them help for competing with the Chinese manufacturers of high-end bicycle and parts.
Manjinder Singh Sachdeva, general secretary of United Cycle and Parts Manufacturers (UCPMA) said, “On Wednesday evening, a delegation of UCPMA met Munjal at his factory. During the meeting Munjal stressed on the need for modernisation of our units in order to compete with the Chinese manufacturers of high end bicycle and parts, who are leading the world market currently. Munjal assured us of complete support in turning this into reality and he had asked us to start work on this project and initially identified and shortlisted five industrial units from Ludhiana, which can be supported by Hero Cycles in adopting the latest technology and making them capable of producing the high-end bicycle parts.”
Rajinder Singh Sarhali, propaganda secretary of UCPMA, said, “The meeting was very fruitful and we are thankful to Hero Cycles for thinking about the small scale industry. The initiative by the company to help the bicycle units from Ludhiana to equip themselves to compete with the Chinese bicycle companies is really a unique initiative and it will not only help the five companies which are shortlisted for the initial phase, but will also motivate thousands of other bicycle parts manufacturers of Ludhiana to technically upgrade themselves and compete with the Chinese companies which have gone on to become number one in terms of producing the high-end bicycles and parts”
Valaity Ram Durga, another office-bearer of the UCPMA, said, “I think it’s high time that Ludhiana’s bicycle industry realises its potential and starts to make itself capable enough to compete with the Chinese companies. I think it’s a welcome initiative of a big company like Hero, which has assured full support to the industry, and we should make maximum use of this opportunity. Ludhiana already is among the top producers of bicycles in the world but in terms of high-end bicycles we have not been able to make a mark yet, but I think the right time has now come to make this also happen.”