Wednesday, 18 March 2020
HELMETS COMPULSORY WITH 2- WHEELER PURCHASES: BENEFITS “STUDDS ACCESSORIES LTD”!
- The Transport Commissioner of Maharashtra in a letter dated March 5, 2020, addressed to the Society of Indian Automobile Manufacturers (SIAM) that the issue of providing helmets to riders must be complied with. It has also now proposed a blanket ban on two-wheeler registrations in the State unless manufacturers ensure the provision of two BIS quality helmets to customers at the time of vehicle sales.
- As per the Rule 138(4)(f) of the Central Motor Vehicles Rules, 1989, which states that at the time of purchase of a two-wheeler, the manufacturer shall supply a protective headgear conforming to specifications prescribed by the Bureau of Indian Standards under the Bureau of Indian Standards Act, 1986. A proof to this effect is also to be included in the documents being submitted for registration in the RTO offices.
- More than 3,500 riders and over 1,700 pillion riders without helmets died last year in Maharashtra, based on the transport commission data. In Mumbai alone, riding without a helmet was a cause of concern in 2016, with 4.24 lakh challans being issued. Similarly, in 2017, 1.45 lakh challans were issued and 1.14 lakh in 2018.
- The Managing Director, of Studds Accessories Ltd, Sidhartha Bhushan Khurana, a leading manufacturer of helmets, in his interview with Business Line on 13th March 2020, said, “We welcome the move by the transport ministry of Maharashtra. The death rate among the pillion riders is as high as the death rate among the riders and by enforcing such law, Maharashtra transport ministry has showcased their proactiveness towards arresting deaths due to road accidents...We believe the steps like this would help in the economic and social well-being of citizens and we appreciate such measures taken by the government.”
BENEFITS TO STUDDS:
- STUUDS is a well- known brand in helmet manufacturing and other accessories.
- Studds is one of the few companies in international market whose facilities have been granted major safety certifications such as BIS certifications IS: 4151 (for motorcycle helmets) and IS: 2925 (for industrial helmets), ECE 22.05 and SLSI certifications, required for exporting its products to international markets.
- Studds is increasing ISI certified bike and bicycle helmet manufacturing capacity in its units, aiming to double its capacity to 136 lacs helmets and motorcycle accessories in coming years.
- Thus government initiatives such as - “compulsory helmet supply along with 2 wheelers by manufactures” and “mandatory for the use of helmet by the driver and pillion rider of a two-wheeler or fine of Rs. 1000 for not wearing the same” turns positive for helmet manufacturing companies such as Studds, Vega, Steelbird, etc.
Thus we recommend “BUY- Studds Accessories Ltd” with a long run perspective.
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