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With an annual turnover of more than 12 million bicycles, the bicycle industry is one of the most established industries in India. It has raised the country's position to that of the second largest bicycle manufacturer in the world, next only to China. India has seen a tremendous increase in the number of bicycle manufacturers and bicycle exporters in the recent past. Today, the Indian bicycle manufacturing and bicycle spares industry is well accepted and is also widely recognized for its quality standards in international markets.

Most bicycle components, spares and bicycle accessories in India, except for free wheels and single piece bicycle hubs, are manufactured by the Small Scale Sector (SSIs), while the large scale units are permitted to manufacture bicycle frames, chains and rims for captive consumption. Manufacture and export of complete bicycles falls within the purview of the Organized Sector. The Indian bicycle industry is currently in the midst of making endeavors for enhanced and increased bicycle exports since the scope for export of Indian manufactured bicycles in the international market is significant. As per public reports the present level of exports falls within the range of Rs. 150 crores. This includes Bicycles, bicycle spare parts and bicycle accessories.

A popular means of transportation in various areas of the world today, the bicycle actually evolved from a little wooden horse with a fixed front wheel, in France in the 1790's. This model was improved in Germany in 1817, by Baron Karl von Drais. The model for the modern bike was the "safety bicycle", invented in England in the early 1880's, with a chain, sprocket driving rear wheel and equal sized wheels. The years that followed saw the further development of the bicycle with pneumatic tires, two and three speed hub gears, and the dérailleur gears, which was the last major innovation of bicycle design until the 1970's. Bicycles today offer more than just the simple pleasure of cycling. From fitness and trekking to racing, bicycles today cover a much broader spectrum of activities than in the days of their predecessors.