The Bicycle Industry in India had its origin in the year 1939. Long after the establishment of the Industry in the Western countries the Hind Cycles Ltd. (a Birla company) and Hindustan Bicycle Corporation established manufacturing facility at Bombay & Patna respectively. These units mostly manufactured components for bicycles.
In 1949, Sen Raleigh Group of India set up a plant at Asansol (WB) with know-how from the Raleigh Group of U.K. While TI Cycles of India Ltd. set up a plant at Madras (Chennai) with know-how from Tube Investment of U.K. The production of cycles accelerated after 1950 with Atlas Cycle Industries Ltd., Sonepat (1950), Hero Cycles Ltd., Ludhiana (1951), Avon Cycles Ltd. Ludhiana (1952) and Roadmaster Industries at Rajpura (1954) came into existence.
Major manufacturing activities of bicycles and its components in India started, only after independence as all parts were being imported till then. The Bicycle Industry has risen from a mere scratch give complete dependence on imports to making the country self-sufficient within a period of about ten years.
Presently (2015), the Industry produces 15.5 million Bicycle per annum (10 % of the world’s productions). It translates into 1.5 billion USD. The Industry mix comprises of 4 major bicycle makers (88% share) and MSMEs (12% share). The product mix consists of 66% low, 36% children & just 5% medium and high end bicycles. The bicycle industry employ around 1 million people (including in sales and repair). The export in 2015-16 was 1 to 1.5 Million and imports 2 million in . It is estimated that area 11.1 cr household own bicycles in India.