New Delhi, July 11 (KNN) The Federation of Industrial and Commercial Organization (FICO) has signed an MoU with the World Bicycle Industries Association to uplift the Indian bicycle industry.

Both the associations will work together for the development of bicycle industry in the India.

Europe is the huge potential market for high end bicycle and bicycle parts, which majorly imports bicycle and bicycle parts from China.

Europe would be the big market for Indian bicycle industry as the country is looking for an alternative market for importing bicycle and bicycle parts.

India being the second largest manufacturer of bicycle and bicycle parts in the World has huge potential to export bicycle and bicycle parts in Europe. The only need is to is to manufacture in accordance to the European standards.

A delegation of Federation of Industrial and Commercial Organization (FICO) went to Friedrichshafen, Germany, to attend Eurobike 2018 where Manjinder Singh Sachdeva, general secretary of FICO-cum-president of the Bicycle Research and Development Organization (BRADO), represented India along with Erhard Buechel, president of the World Bicycle Industries’ Association for the future of bicycle industry.