Bicycle industry refrains from mandatory COC registration despite 80% fee reduction

Ludhiana, July 13 (KNN) Despite reducing the registration fee by 80 per cent, only 500 bicycle units have registered for certificate of compliance (COC), which is mandatory under the new bicycle reflector law, reported TOI.

As per reports, the micro and small units in the bicycle industry are refraining from registering for COC because they are of the view that they will have to undergo complex procedures and inspections every year after complying.

Inderjit Singh Navyug, ex-president of United Cycle and Parts Manufacturers Association said, “Everyone wants to comply with COC but the biggest issue is that there is no clarity on whether the number of inspections will be limited to one a year. The traders also want to confirm that there will not be charged renewal fee for COC every year.”

“The industrialists are going to send a memorandum of their demands to union minister of industry and commerce Piyush Goyal to urge him to relax the norms so that everyone can get registered for COC without any fear,” he said.

The government has slashed the registration fee from Rs 50,000 to Rs 10,000 for the micro industry. For small and medium enterprises it is Rs 40,000 Rs 50,000 for the rest.  (KNN Bureau)