Local businesses in Ludhiana, the location of what is proposed to become the world’s largest cycle manufacturing district, have spoken out against plans to lure foreign investment.
With 300 acres of land allotted to the project and local residents now said to have been compensated, the United Cycles and Parts Manufacturers Association has called for at least 200 acres to be reserved for domestic companies, in particular small and medium sized enterprises.
The region is to be the beneficiary of Rs 1,500 Crore, the equivalent of $321,647,040, but not everyone is pleased with Government proposals.
During a meeting on Friday, the UCPMA opted to send the region’s deputy chief minister Sukhbir Badal a letter outlining that local firm’s should be prioritised in the shake up of the region.
Charanjit Singh Vishivkarma, the UCPMA president, warned that the majority of existing manufacturers are located within the mixed land use areas set to be a focal point of investment.
The region’s Government has suggested that these businesses will not be able to remain in the long term as investment comes in, prompting Vishivkarma to demand that these industrialists be given preference in relocation.
He said: “I think the cycle valley should have a significant presence of small cycle and parts manufacturers, which is going to help them and large factories also. Therefore we have demanded reservation of plots for them.”
Read more on the bicycle manufacturing stronghold proposals here.