‘bicycles Won’t Get Cheaper, But Customs Duty Move Will Help Us’ | Ludhiana News – Times of India

Charanjit Singh Vishivkarma , former president of United Cycle and Parts Manufacturers Association, said, “Rumours that provisions have been made in the Union Budget 2023 to bring down the cost of bicycles are untrue. No such direct step aiming at reduction of rate of bicycles has been taken in this budget, but the bicycle industry welcomes the move to increase the basic customs duty on import of bicycles from 30 to 35 percent will definitely help our industry. Due to this duty hike, the rate of imported bicycles from countries like China will increase which in turn will lead to increase in sales of products of the domestic industry.”
Pradeep Wadhwan, former senior vice-president of UCPMA, said, “The initial announcements made in the budget today did not sound good for us, until we came to know about the decision of government to hike customs duty on import of bicycles. We are thankful to the Centre for taking this step. However, we want to clarify that messages and reports doing rounds on the social media that bicycles are going to be cheaper are totally baseless.”
Inderjit Singh Navyug , another bicycle manufacturer, said, “We welcome the customs duty increase on imported bicycles imposed by the Centre in today’s budget. But there is confusion on whether or not the hike is applicable on import of bicycle parts too, we therefore urge the FM to clarify her position on the same. And in case the customs duty has not been hiked on parts, it should be done immediately so that a majority of the bicycle industry could be benefitted.”

LUDHIANA: Refuting reports that bicycles will get cheaper due to decisions taken in the Union Budget 2023, the bicycle and parts manufacturers claimed that prima facie there is no such relief announced for the bicycle industry in this budget. However, the bicycle industry hailed the decision to hike the customs duty on imported bicycle by 5%, which according to the industrialists will boost the sales of Ludhiana’s bicycle industry which is topmost manufacturer of bicycle and parts in the country. Businessmen, however, were of the view that customs duty hike should be applicable on bicycle parts too in case these have not been covered in the decision taken by the FM.Charanjit Singh Vishivkarma , former president of United Cycle and Parts Manufacturers Association, said, “Rumours that provisions have been made in the Union Budget 2023 to bring down the cost of bicycles are untrue. No such direct step aiming at reduction of rate of bicycles has been taken in this budget, but the bicycle industry welcomes the move to increase the basic customs duty on import of bicycles from 30 to 35 percent will definitely help our industry. Due to this duty hike, the rate of imported bicycles from countries like China will increase which in turn will lead to increase in sales of products of the domestic industry.”Pradeep Wadhwan, former senior vice-president of UCPMA, said, “The initial announcements made in the budget today did not sound good for us, until we came to know about the decision of government to hike customs duty on import of bicycles. We are thankful to the Centre for taking this step. However, we want to clarify that messages and reports doing rounds on the social media that bicycles are going to be cheaper are totally baseless.”Inderjit Singh Navyug , another bicycle manufacturer, said, “We welcome the customs duty increase on imported bicycles imposed by the Centre in today’s budget. But there is confusion on whether or not the hike is applicable on import of bicycle parts too, we therefore urge the FM to clarify her position on the same. And in case the customs duty has not been hiked on parts, it should be done immediately so that a majority of the bicycle industry could be benefitted.”