Increase in India's share in global toy market; manufacturers await policy for toymakers
India Today
The Indian toy manufacturers have now taken over the market, ending Chinese supremacy. Imports are still on and Chinese toys are being sold, but the Indian manufacturers dominate the market. Meanwhile, toy manufacturers believe that the government must work on policymaking for the toy industry to flourish.
About five to six years ago, the entire toy industry was dominated by China with minimal Indian players involved in production and sales, but things have changed drastically now. The Indian toy manufacturers have now taken over the market, ending Chinese supremacy. Imports are still on and Chinese toys are being sold, but the Indian manufacturers dominate the market.
“The rise is a result of the Make In India initiative that provided a quick and easy process to find space for manufacturing under various special economic zones (SEZs) and the market was ready to replace Chinese products. Indian manufactured toys are better, sturdier and cost the same as their Chinese counterparts due to ease of doing business and simultaneous quality checks. It is estimated that they now have more than 50 per cent of the market share,” said Sameer Saxena, founding member, Global Association for Corporate Services (GACS).
The industry leaders claim that more needs to be done for the toy industry to flourish and to do away with Chinese items. The manufacturers claim that many people in business are still illegally importing toys using falsified codes and selling them at cheaper rates.
“Now the government must work on policymaking for toymakers as it is such a huge industry. Many in the industry are still using fake codes to import Chinese toys, which needs to be stopped. Also, ease in getting land and space for manufacturing needs to be enhanced in favour of the industry and we will conquer the entire market not only in India but southeast Asia,” said Naveen Kumar Gupta, Managing Director, Fun Zoo Toys.
Apart from plastic raw material, there is a constant requirement for materials for soft toys, which is not available in sufficient quantities at times. The industry leaders also seek a constant in-house supply of such textiles for cheaper and quality products.
“Things have changed in the last five-seven years. Now, we are dominating not only in retail but the wholesale market also. Our manufacturing is specialized for playschools and primary and nursery schools where a number of toys and other educational toy setups are required. With little push from the government, we can do wonders in the field of the toy market,” said Shashwat Agarwal, owner of Arjun Toys.
The toy manufacturing units are spread across Narela, Bawana, Kirti Nagar and other such areas in Delhi and a number of units are functioning from Noida’s Sector 63, NSEZ, Greater Noida West and other such localities.
