Boycott China: Hero Cycles gives China a blow of Rs 900 crores, MD Pankaj Munjal announced

Showing aggression against India on the border has cost China dearly. The country’s corporate sector has also played the bugle of Boycott China. Hero Cycles has canceled trading deals worth Rs 900 crores, giving a big blow to China. The company’s chairman and managing director Pankaj Munjal announced this on Friday.

Speaking to the media, Munjal said, “In the next three months we were going to do business of Rs 900 crore with China. But we have canceled them. It is a commitment to boycott Chinese goods. ”

The company imports parts of high-quality bicycles and many ready-made bicycles are also purchased, which are bought by professional bikers. The price of these cycles ranges from 15 thousand to over 7 lakh in the market.

Munjal said that he has ended trade with Chinese companies and is looking for a new market. Germany is at the forefront of the countries Munjal is considering as an alternative to China. He said that Hero Cycles is in the process of setting up a plant in Germany, from where it will meet the European market demand.

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Munjal said that the demand for bicycles has increased worldwide in the last few months. Hero Cycles is expanding capacity to meet this demand. However, he also said that small companies suffered losses during the lockdown. He said, “So we have come forward to help them and are ready to give them technical help so that they can manufacture the parts which are still being sourced from China.”

Comparing Cycle Valley to China, Munjal said, “After the formation of ‘Cycle Valley’ in Dhansu village of Ludhiana, we can compete with China. If India can make the latest computers, then why can’t we make hi-tech cycles. ”He said that it is possible to manufacture all types of bicycles in India.