India's bicycle market on a fast track amid pandemic

Indians lanes are now dotted with cyclists. The industry was growing at 5-7 per cent every year but because of the coronavirus pandemic, it is now expected to grow at 15-20 per cent, led by a surge in first-time users.

Indian cycle industry is second largest in the world, followed by China. It is worth mentioning that 22 million units are made in the country every year and the annual turnover is Rs 7,000 crore.

According to industry numbers, 22 million cycles were sold in 2018-19 and 18 million were sold in in 2019-20. Not just adult professionals but kids, too, are increasingly taking up cycling as an activity. Since more people are taking up cycling as an activity, many have requested the government to make arrangements to make it a safer sport in India.

While the number of people taking up cycling as an activity is increasing, the trend of people going to work on cycles has not kicked off in urban India yet. It may be noted that the number of employees who ride bicycles to work in India are much lower in comparison to European countries.

Another challenge is that India’s growing cycle enthusiasts is the cost of good bicycles.

Good bicycles cost anywhere between Rs 40,000 and Rs 60,000 rupees — an amount most Indian households will think twice before spending. Many feel that the time is appropriate for Indian manufacturers to jump make good cycles available at cheaper rates.

It may be noted that a lot of bicycle components come from China and cyclist have urged Indian manufacturers to make these components in the country at cheaper costs. And if the costs for good bicycles reduce in future, cycling could become much more than a sport or activity in the country.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.