The Indian Government is set to engage in discussions with prominent global retailers and domestic toy manufacturers to explore opportunities and strategies for promoting toy exports from India.
This meeting, organised by the Toy Association of India (TAI) in partnership with Invest India and the Department for Promotion of Industry and Internal Trade (DPIIT), aims to position India as a preferred sourcing destination for the global toy industry.
The dialogue, chaired by DPIIT Secretary Rajesh Kumar Singh, brings together key industry stakeholders and renowned international companies to showcase India’s competitive advantages and foster collaborations with Indian manufacturers.
Advancing India as a Sourcing Hub:
The round-table discussion will primarily focus on highlighting the advantages and opportunities available to international companies seeking partnerships with Indian manufacturers. It aims to underscore India’s manufacturing capabilities, skilled workforce, technological advancements, and adherence to international quality and safety standards. By showcasing these strengths, the government aims to attract global retailers and position India as an attractive destination for sourcing toys.
Government Initiatives and Policies:
The meeting will also shed light on the government’s initiatives to boost domestic toy manufacturing. Measures such as increased import duty and the issuance of mandatory quality norms have been implemented to create a conducive environment for sourcing and manufacturing in India. These initiatives offer attractive incentives, subsidies, and streamlined processes to encourage growth in the sector. The discussion will outline the policy measures introduced by the DPIIT, highlighting the government’s commitment to supporting the industry.
Strengthening India’s Position:
This dialogue holds significant importance in strengthening India’s position as a sourcing hub for the global toy industry. International companies participating in the meeting will have the opportunity to explore strategic collaborations and sourcing opportunities with Indian manufacturers. The event will also serve as a platform to showcase the Indian government’s initiatives and highlight the potential for mutually beneficial partnerships.
Promoting Growth: The Toy Exhibition:
To further promote the growth of the sector, TAI is organising a four-day business exhibition at Pragati Maidan. With the participation of 265 Indian manufacturers, the event aims to showcase the diverse range of Indian toys. The exhibition is expected to draw over 6,500 domestic visitors and more than 100 international visitors from 24 countries. This flagship event provides a crucial platform for the Indian toy industry to showcase its products, fostering networking and business opportunities.
Impressive Growth and Global Reach:
The Indian toy industry has been witnessing remarkable growth in recent years. With over 9,600 MSMEs involved in the sector, toy exports from India surged by 61% to reach USD 326.6 million in 2022, compared to USD 202 million in 2019. Indian toys are exported to over 100 countries, including major markets like the USA, UK, Germany, and Canada. The continuous growth in exports underscores the industry’s potential and highlights the demand for Indian toys in international markets.
The collaborative efforts between the Indian government, global retailers, and domestic toy manufacturers to promote toy exports from India hold immense promise for the industry.
By leveraging India’s manufacturing capabilities, skilled workforce, and adherence to quality and safety standards, the government aims to establish the country as a preferred sourcing destination for global toy retailers. The upcoming discussions and the accompanying toy exhibition serve as platforms to showcase Indian toys and explore potential partnerships.
With supportive government initiatives and a thriving industry, India’s toy exports are poised for further growth, contributing to the country’s economic development and global influence in the toy market.
