Hero Cycles cancels Rs 900 crore deal with China

Supporting the ‘boycott Made In China movement’ by the people of India, India’s leading bicycle manufacturing company Hero Cycles  has decided to stop all its business with China. Hero has cancelled an upcoming Rs. 900 crore deal with China.

Following the Indo China border standoff at Galwan valley in Ladakh, the people of India have decided to boycott Chinese products. Hero has also given its nod to this movement.

Chairman-cum-Managing Director (CMD) of Hero, Pankaj Munjal, reportedly said that the company was scheduled to conduct a Rs 900 crore business with China but has cancelled those plans.

Rather looking forward to workout business with Germany in near future, he added.

As reports say Hero Cycles has demand all over the world. So the company is in the process of increasing productivity. Hero Cycles is buying its raw materials from inside India rather than importing from overseas due to the COVID 19 pandemic situation.

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