Industry Overview
Cycle chains and
hubs are integral parts of bicycles, ensuring smooth functionality in the movement of the gears and wheels. With the rise of
cycling culture globally for fitness and eco-friendly transport, the demand for durable and high-performance cycle chains and hubs continues to grow. Manufacturers can cater to the increasing demand for
sports bicycles,
e-bikes, and
urban cycles by producing top-quality chains and hubs.
Scale and Profitability of Industry
The cycle chain and hub manufacturing business is suitable for both
small-scale and
large-scale setups. The profitability in this business is promising, especially as bicycles continue to gain popularity for
recreation and
commuting. By focusing on
quality control and
innovative designs, manufacturers can attract both
OEMs (original equipment manufacturers) and
aftermarket consumers.
Subsidy Opportunities
Manufacturers can apply for
MSME,
PMEGP, and
Start-Up India schemes, which provide
financial assistance for machinery purchase, raw material procurement, and establishing a factory. These schemes also help in
technology upgrades to meet evolving market needs.
Eligibility Criteria
- Compliance with automotive and safety standards.
- MSME registration and other legal business registrations.
- Adherence to quality standards.
Project Cost and Subsidy
- Project Cost: ₹5 Lakhs to ₹10 Lakhs.
- Subsidy: Up to 50% subsidy under MSME schemes.
To apply for the Food Processing Scheme, the following mandatory documents are required for new enterprises (Individuals/Firms) as outlined in the manual
1. PAN Card of concerned/all promoters.
2.Aadhaar Copy & Photo of all promoters/guarantors.
3. Address Proof: Any of the Officially Valid Documents (OVD) such as:
o Utility bill (not more than two months old) from any service provider (Electricity, telephone, post-paid mobile phone, piped gas, water bill).
o Property or Municipal tax paid receipt.
o Ration Card (Individual).
o Driving Licence
o Aadhaar Card.
o Voter ID Card.
4. Details of the site where the unit is to be established, including whether it is owned/rented/leased, along with proof (Lease/rent agreement should be for more than the loan repayment period).
5. Photocopy of Bank
6. Estimates and Quotation of all capital expenditure and machinery and equipment to be purchased. Statement/Bank Passbook for the last 6 months.
For existing enterprises with a turnover of less than 1 crore, similar documents are required, including PAN Card, Aadhaar, address proof, and site details.
If you need more specific information or additional documents, please let me know!
