New Delhi, April 15, 2019: Punjab’s global cycle manufacturer Hero Cycles took a significant step to boost the cycle manufacturing industry by laying the foundation stone of the ambitious Hero Industrial Park. This is a crucial progress post the land handover and agreement lead by Chief Minister of Punjab Capt.Amarinder Singh earlier in January this year. Industry experts see the Hero industrial Park as a catalyst of economic progress and manufacturing excellence for the cycle industry in Punjab, as Hero would facilitate a new era of new age technology in manufacturing with global best practices and innovations which would not only be a great opportunity for local manufacturers of ancillaries and component makers but also bring with it the world’s best companies and talent in the state.
With the demand for premium and high-end cycles in India and Europe bullish the Hero Industrial Park is just the perfect platform to build and consolidate India and Punjab as a strong hub for manufacturing excellence and global products for both domestic and international markets. Given the future market forecast expectations the Hero industrial Park would have a capability of scaling up its through put to 10 Mn units which could prove to be a game changer for the cycle industry in Punjab. Another emerging trend being tapped into by the Hero Industrial park would beto capitalize on the potential of Electric Cycles, which is going to be a reality in the foreseeable future.
Though it’s just been a few months since the agreement with the state government, Hero Cycles has been garnering a lot of attention and overall support. There is news that global companies are showing keen interest to partner, there has been an encouraging response in Punjab as well with leading local manufacturing companies already starting to join hands. RalsonTyres and JSTS, leading tyre and saddle makers respectively signed a MOU with Hero Cycles Ltd during the event today.
Speaking on the occasion of the foundation stone laying ceremony Mr. Pankaj M Munjal, Chairman & Managing Director, HMC, a Hero Motors Company opined “We are committed to the state of Punjab and the Hero Industrial Park will ensure that Punjab gets its rightful place in the globe when it comes to cycle manufacturing. We are committed to be inclusive and will ensure there is overall growth and exposure to the local industry, and create an amicable and homogeneous ecosystem of local and global manufacturing excellence which feeds the domestic and world demand”