FICO signs Mou with World Bicycle Industries Association

Ludhiana, July 10, 2018: Manjinder Singh Sachdeva General Secretary FICO & President BRADO represented India in the Bike Europe Conference, along with Mr.Erhard Buechel President World Bicycle Industries Association & Mr.Mirko Junghanel President CONEBI (Confederation of European Bicycle Industry) for the future of Bicycle Industry.

FICO signed a Memorandum of Understanding with World Bicycle Industries Association that both the associations will work together for the upliftment of 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 & It is right time to enter in European Market due to huge demand of High end bicycles & parts said Mr. Edhard Buchel President World Bicycle Industries Association.