Taking a cue from the changing pattern of demand for cycles, a number of international brands are introducing interesting models for the modern bicycle consumers and we must make every effort to beat the competition.

On the occasion of the 23rd Annual General Meeting of the All India Cycle Manufacturers' Association, it is indeed a pleasure and a privilege to extend a warm welcome to you all. I am particularly happy and grateful to welcome our respected Shri O P Munjal at this session. I am also thankful to every member for their unstinted support and cooperation throughout the year.

It was the most exciting and enjoyable year. This year, in comparison to the last, was comfortable and less stressful as far as fluctuation in the prices of inputs were concerned. Though the demand slightly slackened due to a slowdown in the global and the national economy, the shoots of recovery have already started appearing with the Indian economy registering a GDP growth of 7.0 (April 09-Sept 09). Further, the states' Goverment tenders kept the bicycle industry going.

During the year, the Executive Committee met five times, whereat important issues concerning the bicycle industry and trade were discussed in detail, including policy decisions announced by the Government of India and the State Governments. The Committee also reviewed routine matters periodically, including review and monitoring of the availability and prices of basic raw materials, new technologies, marketing and retailing and promoting of exports etc.

The secretariat made sincere efforts in collection and compilation of data which was also shared with Media, Research Scholars and other agencies engaged in the business of conducting market surveys/research activities, etc. regarding the bicycle industry. The association endeavored to maintain up-to-date information about the current scenario and future potential of the Indian bicycle industry. Timely feedback was also provided to the various Government Departments which approached the Association.

Information with regard to various Exhibitions/Fairs to be held within and outside the country was promptly circulated amongst members to enable them to participate appropriately. The collective effort aimed at building the image of the Indian bicycle Industry within the country and abroad.

The members of the association also met Shri S S Dhindsa, Cycling Federatin of India to confirm the support to events such as the National Cycling Championship in Patiala in January 2009 and also to sought his guidance and support for developing a road map for nurturing the Indian cycling team for the forthcoming Commonwealth Games and promote cycling as a sports and also as a healthy product for the environment and the body.

The two sub commitees formed last year to peruse and forward informed suggestions related to legislations and taxation, and Quality Standards for bicycles met from time to time and helped the Association to submit its views and opinion to the Govenrmnent in a timely manner.

The state level imposition/ deletion of various levies and taxes was also discussed and appropriately represented. During the course of the year, Government of Uttar Pradesh issued a notification imposing entry tax on steel in the State of Uttar Pradesh. The Association studied and discussed the notification in detail and decided that the Government of UP may be requested to make Steel VAT-able. The Association prepared a presentation containing all the technical data and details through Shri Ravi Kumar, CA and Taxation Expert.
We also endeavored to meet the Chief Ministers of various States and request them for allocating funds for creating cycle paths in all major cities.

This year, one of our members M/s TI Diamond Chain Ltd., resigned from the memebrship of the Association w.e.f 1 April 2009 due to non operation of their unit.

The pattern of demand both in the domestic and exports market is changing. This is an area in which the Association members must be very proactive. Taking a cue from the changing pattern of demand for cycles, a number of international brands are introducing interesting models for the modern bicycle consumers and we must make every effort to beat the competition.

While concluding I would like to stress that there is immense potential for this industry but the way ahead may not be smooth as several international brands are entering the Indian market and also giving us tough competition in export markets.

With these words, I once again thank you all for your support and Shri O P Munjal ji for his guidance. I am also thankful to Shri Onkar Singh Pahwa, Vice President, who has stood by me in all decisions and has extended his whole hearted support all through my tenure.

Finally I take the opportunity to express my sincere thanks and appreciation to the PHD Chamber of Commerce and Industry for providing efficient Secretarial Services.