FICO signs MoU with Confederation of European Bicycle Industry ( CONEBI) for upliftment of Indian Bicycle Industry

Ludhiana, December 9, 2017: Today, Federation of Industrial & Commercial Organization (FICO) signed an Memorandum of Understanding with Confederation of the European Bicycle Industry (CONEBI) that both the associations will work together for the upliftment of Indian Bicycle Industry. Mr.K.K.Seth Chairman FICO & Mr.Edhard Buchel President CONEBI inked the Memorandum of Understanding. It’s in the history of India first MoU Signed to uplift the Indian Bicycle Industry.

Europe is a huge potential market for High End Bicycle & Bicycle Parts, Today 82% of Europe’s total import for bicycle industry comes from China, due to increase in labour wages and environmental conditions getting worse in China, Europe is looking for an alternative for importing bicycle & bicycle parts. There is a big potential for Indian Bicycle Industry, as India is a second largest manufacturer of bicycle & bicycle parts in the world. There is a need for indigenous Indian manufacturers to pull up their socks and manufacture in accordance to the European Standards, and there is a never ending market for India to export Bicycle & Bicycle Parts in Europe.

European countries created Bicycle lanes for safe cycling and it is right time to enter in European Market due to huge demand of High end bicycles & parts said Mr. Edhard Buchel President CONEBI.

Amongst present were Mr. Edhard Buchel President CONEBI, Mr. Gurmeet Singh Kular President FICO, Mr. K.K. Seth Chairman, Mr. Harjit Singh Sondh Vice Chairman, Mr. Manjinder Singh Sachdeva General Secretary, Mr. Rajeev Jain Secretary, Mr. Satnam Singh Makkar Propaganda Secretary, Mr. Harmohinder Singh Pahwa Executive Member, Mr. Subash Lakra Executive Member Mr. Raghbir Singh Sohal Head Plywood Division, Mr. Mankar Garg, Head Plastic Division, Mr. Karan Aggarwal Executive Member, Mr. Sachin Lakra Executive Member Mr. Nalin Mahajan Executive Member, Mr. Japneet Singh, Head young Leaders Forum, Mr. Bhupinder Singh Sohal Executive Member FICO.