Pankaj Munjal made the Honorary Member of the Asian Bicycle Alliance

The alliance, which is Asia’s first association for the cycle manufacturing industry, was launched yesterday, a day before the commencement of the 25^th China Cycle Expo in Shanghai.

In order to promote the cycle segment in the Asian markets, the Asian Bicycle Alliance was formed yesterday, a day ahead of the 25^th China Cycle Expo to be held in Shanghai, China. As a part of the alliance, cycle industry associations from 10 countries including India, Russia, China, Taiwan, Turkey, India, Philippines, South Korea, Vietnam, Indonesia and Japan have come together to strengthen the cycle manufacturing industry in Asia.

Mr Pankaj Munjal. Co-Chairman & MD of Hero Cycles, the world’s largest cycle manufacturer by volume, was also present there representing the All India Cycle Manufacturers Association of India at the event which will last for four days. On the occasion, Mr Munjal was felicitated and was made an honorary member of the Asian Bicycle Alliance.

Commenting on the newly formed association and his new role, Mr Munjal said, “This is the first time that industry associations from all over Asia are collaborating at such a large scale. We all aim to promote the growth of cycling industry in the region and encourage the free flow exchange of learnings and technology, underlining the importance of development and advancement of technology. I am sure this partnership would definitely benefit the Asian cycling industry in the long run.”

The primary aim of this association will be to promote the growth of the cycling industry in the Asian markets, and exchange of learning and technology.

Hero Cycles Limited, which was founded in the year 1956, is the world’s largest bicycle manufacturer with a manufacturing capacity of 75 lakhs per annum. The company’s state-of-the-art manufacturing facility in Ludhiana produces 19,000 cycles every day. With two other manufacturing facilities in Bihar and Ghaziabad, Hero Cycles produced 5.5 million bicycles in FY14.