NEW DEHLI, India (BRAIN)—Hit hard by rising input costs, bike manufacturers in Ludhiana, India, which accounts for over 90 percent of country's bicycle and bicycle parts output, have demanded setting up of a regulator to monitor steel prices, according to India's Business Standard.
"There is an urgent need to constitute a regulatory commission to keep a tab on steel making companies for not unnecessarily raising prices by forming a cartel, as rising prices in a short span have rendered the bicycle sector uncompetitive," United Cycle & Parts Manufacturers Association president DS Chawla told Press Trust of India over the phone from Ludhiana.
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