TI Cycles, Hero Cycle, and Avon Cycle is investing Rs. 295 Crs.in Bihar
It is learnt that TI Cycles, with investment proposal of Rs 45 crore, has identified land in Hajipur industrial area, and the construction work, too, has been started. Representatives of Hero Cycle, with investment proposal of Rs 200 crore, have done the survey work with regard to their land at one or two places, a source said. Similarly, Avon Cycle, which is the biggest manufacturer of cycles in the country, has an investment proposal of around Rs 50 crore, and is also busy identifying the land for its manufacturing unit in the state.¬†Bihar can afford absorption of around five lakh bicycles manufactured annually. Of the five lakh cycles produced annually, four lakh customers is expected to be from among the ninth standard students and another one lakh would be the general customers.
Since the Bihar govt. bycycle yojana was first introduced in 2007 for ninth standard girl students studying in government schools, the annual inflow of the number of girl students in high schools is estimate an ¬†increase of nearly 1.60 lakhs. Last year, the government also decided to cover boys of ninth standard in high schools, and in the current fiscal, the money given to every such student for the purchase of bicycle has been increased to Rs 2,500 from the earlier Rs 2,000.