All India Cycle Manufacturers’ Association (AICMA), the apex body representing India’s cycle manufacturing industry, announced the appointment of Aditya Munjal, CEO, Hero Cycles as its President for 2024 to 2026.
During the course of his presidency, Munjal will work closely with both industry and policy stakeholders with the aim of establishing India as a major export hub for cycles and e-cycles. Hero Cycles is the largest manufacturer of cycles in India and is the market leader in cycles in India.
As AICMA’s president and a visionary business leader, Aditya Munjal aims to raise the production standard of cycles manufactured in India to be at par with global standards. This improvement in the quality of cycles will unlock export opportunities for Indian manufacturers and their ancillary industries to compete with other Asian countries, the statement said.
Speaking on his new responsibility, Aditya Munjal said, “Being appointed as the president of AICMA, India’s apex cycle manufacturers industry body is a matter of great honour. Our cycle manufacturing industry has an opportunity to transform itself and seize global opportunities in the time to come. AICMA has a critical role to play in this transformation, to effectively represent the industry’s thought process while driving change through the entire value chain. I am confident that this, coupled with the forward-thinking government policies, will enable us to establish India as a formidable cycle manufacturer in global markets.”
At Hero Cycles, Aditya Munjal has demonstrated that India can manufacture globally benchmarked cycles and e-cycles, from its world-class integrated manufacturing facility in Punjab. With a rich legacy of almost 70 years, Hero Cycles has steered the Indian cycle manufacturing industry with several firsts, and now, Munjal looks at making the industry globally competitive and a preferred partner for leading brands, according to the statement.
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