New Delhi : ” By taking indigenous manufacturing of toys in India as one of the premier priority sector of the Union Government, Prime Minister Shri Narendra Modi has given enough indication of a major shift in basic fundamentals of the Government policy to make the local products as an important tool for making Atamnirbhar Bharat and the business community of the Country, small industries and logistics sector catering to the need of sectors like toys, offers compliments to Prime Minister Shri Modi for making local products as a new engine of economic growth”-said the Confederation of All India Traders (CAIT). The CAIT, however, said that in furtherance of the views expressed by PM Modi in his Man Ki Baat yesterday, there is a need of a National Toy Policy and constitution of an Expert Committee comprising of senior officials and representatives of trade to make an in-depth study of the toy sector in India and remedial measures required for augmentation of production of both mechanical and electronic toys in India.
Mr. B.C.Bhartia, National President and Mr. Praveen Khandelwal, Secretary General of the CAIT said that as per an estimate, currently the toy market in India generates an annual turnover of Rs. 25000 crore out of which China is having a share of about 65% and about 5% toys are imports from other Countries and rest of the 30% toys are manufactured in India. There are about 6000 manufacturers in India mainly in primary, micro and cottage segments. Besides China, India also imports toys from Thailand, Korea and Germany. China has overpowered the toys sector particularly in past 5 years aggressively flooding the Indian market with its low price range products though these products are of the nature of use and throw whereas the Indian toys are more durable and sturdy but becomes costly because of various problems being faced by Indian toy sector which is a major impediment in the growth of the sector in India and making people more dependable on China.
