FICO urges Punjab govt to introduce technology upgradation fund scheme for Bicycle Industry

Ludhiana, Feb 27 (KNN) The Federation of Industrial and Commercial Organisations (FICO) delegation on Sunday met with Punjab finance minister Harpal Singh Cheema to discuss issues facing the Bicycle industry.

FICO delegation, led by President Gurmeet Singh Kular said, “Bicycle Industry is the mother industry of Punjab which makes India the second largest manufacturer in the world. In order to see our industry go past China which is the largest manufacturer in the world, a technology upgradation fund scheme needs to be introduced at the earliest.”

“Under this scheme, the bicycle industry should be given financial support of up to Rs 40 crore to upgrade itself by procuring latest machinery and techniques to produce world-class components,” he said.

FICO pointed out that a support from the state government will not only change the fortunes of the industry, but will help Punjab register huge industrial growth.

The meeting was attended by Kuldeep Singh Dhaliwal, minister, rural development & panchayats; Himanshu Jain, principal secretary; and Rajya Sabha MP Vikramjit Singh Sahney.  (KNN Bureau)