Food for Thought - What Does an Expensive Cycle Mean?

Recently, I was asked a question

Why are foreign made bicycles more expensive than Indian-made cycles and why one should I buy them?

I thought it would be ideal to pen down a response to this question for posterity and because there are many assumptions that are at play here. In this post, I’ve compiled the general assumptions and assertions and provided my opinion, with links to international testing, published research wherever possible.