LCPMA expressed its gratitude to the Govt. of India for reducing GST on bicycles from 12% to 5% – Prince Bansal
Dear All,
The *Ludhiana Cycle & Parts Manufacturers Association (LCPMA)* expresses its sincere gratitude to the Hon’ble Government of India for considering and accepting our long-pending demand to reduce *GST on bicycles from 12% to 5%*.
This historic decision will provide significant benefits to the entire bicycle industry and the public at large:
* *Affordable Mobility:* Reduction in GST will make bicycles more economical, thereby increasing accessibility for common citizens, students, and daily commuters.
* *Industry Growth:* The decision will boost sales, encouraging growth of manufacturers, suppliers, traders, and allied sectors.
* *Employment Generation:* With increased demand, new opportunities for employment will be created across the value chain.
* *Promotion of Eco-Friendly Transport:* This move supports a healthier lifestyle, green mobility, and reduction of pollution.
On behalf of the entire cycle industry, *LCPMA* thanks the Government for this progressive step which will go a long way in supporting the industry and promoting cycling culture in India.
Thanks,
Prince Bansal
*President*
*Ludhiana Cycle & Parts Manufacturers Association (LCPMA)*
