India leading bicycle manufacturers company, Hero Cycles, has announced about the cancellation business project involving China worth Rs. 900 crores. This announced mention comes to show of the company's commitment to boycott Chinese products after the LAC standoff in the Galwan Valley.
The company's chairman-cum-managing director (CMD) Pankaj Munjal said after the breaking business ties with Chinese companies, Hero Cycle is exploring a new global market. Since Germany is the top market in the cycle, the company plans to venture into European markets by setting up its plant in Germany and this is the one of the best alternatives of China.
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The bicycle demand has increase in past few months in worldwide, and, Munjal said that Hero Cycles is expanding its production capacity to meet according new growing demand. In coronavirus time many small companies adversely affected, Munjal provided technical assistance to these companies’ small companies to manufacture the high-end bicycle parts that were being imported from China.
'Boycott China' Movement in India
On 16 June, a day after the conflict in the Galvan Valley in the LAC, which killed 20 Indian soldiers, the Confederation of All India Traders (CAIT) announced a national movement to boycott Chinese goods and products.
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