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Indian Makers Plead for Government Funds to Modernize Industry

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Bicycle manufacturers have asked Indias Prime Minister Manmohan Singh (photo) to consider the creation of Technology Upgradation Fund (TUF) exclusively for the bicycle sector with a view to upgrade and modernise the industry. This demand was

Indian Makers Plead for Government Funds to Modernize Industry

Bicycle manufacturers have asked India’s Prime Minister Manmohan Singh (photo) to consider the creation of Technology Upgradation Fund (TUF) exclusively for the bicycle sector with a view to upgrade and modernise the industry.

End of January that demand was raised by a delegation from Ludhiana’s trade and industry which met PM Singh to apprise him of the problems of the industry in Punjab, and the measures required to overcome the impediments coming in the way of state’s industry, a release said which was published in ‘The Hindu’.

The delegation told the PM that TUF had been of great help to the textile industry as it had made it far more competitive. If a similar opportunity is offered to the bicycle industry, it could help it become more competitive and take the Chinese bicycle industry head on, the release said.

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