New Delhi, March 18,2014 : Rising imports of bicycles and their components from China to India at almost 25 per cent cost-comparative advantage owing to free trade agreements (FTAs) together with South Asia Free Trade Agreement (SAFTA) are posing a serious threat to domestic bicycle industry producing over 41,000 bicycles per day, according to a just concluded study undertaken by the ASSOCHAM Economic Research Bureau.
“There is a need to increase the import duty on bicycles and its parts from prevailing 20 per cent to 30 per cent as by doing this the prices of bicycles made both in India and China would equate in the global market,” noted a just-concluded study on ‘Future of Indian Bicycle Industry,’ conducted by The Associated Chambers of Commerce and Industry of India (ASSOCHAM).
“There is an urgent need to impose strict anti-dumping laws to check rising cheap imports of bicycles and components from China which has been dumping its products into India,” said Mr D.S. Rawat, secretary general of ASSOCHAM. Business Standard
