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‘Post lockdown, huge scope for the bicycle industry and e-vehicles’
The Federation of Industrial and Commercial Organisation organised a webinar for bicycle industrialists deliberating on approach to be adopted during and post lockdown period
The Federation of Industrial and Commercial Organisation (FICO) organised a webinar for the bicycle industry on Thursday wherein the experts deliberated on what approach should be adopted during and post lockdown period.
As many as 300 FICO members from across the country participated in the session that covered topics, including revival procedures, government relief measures, payments of wages and salary, cash flow management, funding options and do’s and don’ts to avoid debt-trap, among others.
Hero Cycles chairman Pankaj Munjal and additional income tax commissioner Rohit Mehra were the key speakers for the session.
They industrialists discussed the steps being taken by the governments as well as what needs to be done at the entrepreneurs end. There is a huge scope for the bicycle industries and e-vehicles, including e-bikes, e-rickshaws and e-loaders, in post lockdown period, said Pankaj Munjal.
“After the lockdown gets over, the industry needs to focus on direction rather than speed. Focus should be on the objectives and the industry should aim for bull’s eye,” said Rohit Mehra.
FICO bicycle division head Harpal Singh Bhamber said that due to the Covid-19, the world is looking for a manufacturing alternative to the Chinese bicycle market and India being the second largest manufacturer of bicycles in the world has a huge opportunity to capture the export orders of Europe and United States of America.
Post lockdown, the industry should concentrate on the cycle valley project and develop high end products for the international markets, said FICO president Gurmeet Singh Kular.
Meanwhile, raising concern over the government’s guidelines for the industry owners if any employee is found positive for the virus, FICO general secretary Rajeev Jain said that as per the guidelines of the Union home affairs ministry, if any employee in a factory is found positive with coronavirus, there is a direct conviction and criminal proceeding for the owner, which is totally wrong and unjustified. Rather, the government should cover Covid-19 under the Employees’ State Insurance (ESI), and treat the employees at ESI hospitals if found positive.
