The government will hold discussions with global retailers and domestic toy manufacturers on ways to promote toy exports from India in a meeting on Saturday, an official said. The official said that top retailers, including Hasbro, Walmart, Spinmaster, Ikea, Lego, Simba Dickie, IMC, Hamleys, Lulu, and Sanrio, have been invited for the deliberations.
Representatives from Indian companies such as Microplastic, Aequs, Funskool, Playgro, Dreampalst, OK Play, Universal, and Play Shifu are also expected to participate in the meeting.
“The discussions will focus on establishing India as a preferred sourcing destination, highlighting the advantages and opportunities available to international companies looking to partner with Indian manufacturers,” the official added.
The round-table discussion is organised by the Toy Association of India (TAI), in collaboration with Invest India and the Department for Promotion of Industry and Internal Trade (DPIIT).
This event brings together key industry stakeholders, renowned international companies, and leading Indian manufacturers to explore the immense potential of India as a sourcing destination for the global toy industry.
It will be chaired by DPIIT Secretary Rajesh Kumar Singh.
It also aims to showcase the competitive advantages of the Indian toy industry, including its manufacturing capabilities, skilled workforce, technological advancements, and adherence to international quality and safety standards.
An industry official said that this dialogue holds immense significance in further strengthening India’s position as a sourcing hub for the global toy industry.
“The meeting would help international companies to explore strategic collaborations and sourcing opportunities with Indian manufacturers. The discussions will also highlight the government’s initiatives, including the policy measures introduced by the DPIIT,” the industry official said.
The government has rolled out measures such as increasing import duty and issuance of mandatory quality norms to boost domestic manufacturing of toys.
These measures have created a conducive environment for sourcing and manufacturing in India, offering attractive incentives, subsidies, and streamlined processes.
To promote the growth of the sector, TAI is organising a four-day business exhibition from July 8 at Pragati Maidan.
As many as 265 Indian manufacturers are participating in the fair. Over 6,500 domestic visitors and more than 100 international visitors from 24 countries will also attend the exhibition.
The expo is a flagship event organised by TAI, serving as an important platform for the Indian toy industry to showcase its products.
Over 9,600 MSMEs are involved in the sector. Toy exports have increased by 61 per cent to USD 326.6 million in 2022 as against USD 202 million in 2019.
India exports toys to over 100 countries including the USA, UK, Germany and Canada.