FICO to Initiate Joint Ventures to Upgrade the Indian Bicycle Industry
The Federation of Industrial & Commercial Organization (FICO) has announced that it will initiate joint venture collaborations with the Confederation of the European Bicycle Industry (CONEBI) to help upgrade the Indian bicycle industry in line with international standards and strengthen its global competitiveness.
City Air News
Jul 6, 2026 08:48
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Ludhiana: The Federation of Industrial & Commercial Organization (FICO) has announced that it will initiate joint venture collaborations with the Confederation of the European Bicycle Industry (CONEBI) to help upgrade the Indian bicycle industry in line with international standards and strengthen its global competitiveness.
Speaking on the initiative, Manjinder Singh Sachdeva, General Secretary, FICO, said that Europe is one of the world's largest markets for premium and high-end bicycles. In countries such as the Netherlands, bicycles actually outnumber the human population, with an average of approximately 1.3 bicycles per person, reflecting the region's strong cycling culture and significant market potential. He emphasized that Indian bicycle manufacturers should closely study the European market and align their products with European quality standards, technical specifications, safety requirements, and consumer preferences. Such an approach will enable Indian manufacturers to expand their presence in the international market and enhance exports.
Gurmeet Singh Kular President FICO stated that Europe is actively looking to diversify its sourcing beyond Chinese bicycle manufacturers, creating a significant opportunity for Indian companies. With the right technology partnerships, product innovation, and adherence to global standards, Indian bicycle manufacturers are well-positioned to capture a larger share of the European market. FICO will work towards facilitating collaborations, technology exchange, and joint ventures between Indian and European bicycle manufacturers, enabling the Indian industry to adopt advanced manufacturing practices and produce world-class bicycles that meet international benchmarks.
