Hero of India to source in China and target the world

Rediff.com reports that Hero hopes to take advantage of the "low prices of Chinese bicycles and its components.".

Chinese bicycle and bicycle components are 40 percent cheaper than Indian bicycles and parts, said Hero Exports.

Hero Exports plans to export its range of bicycles to European and American markets, said Rdeiff.com.

"The potential in Europe and US is quite huge for our products," said a statement from Hero.