Excellent Opportunity for Indian & global companies in Indian toy market: Smriti Irani
19 February 2021: There is expansive opportunity for both Indian as well as global companies to invest in the Indian toy sector, said Ms. Smriti Irani, Minister for Women & Child Development and Textiles, Govt of India. Speaking on India Toy Fair 2021, Ms. Irani said that over 1,000 companies have come on board, including some of the biggest national and international brands.
Addressing the virtual 2nd edition of FICCI Seminar on Value of Play Toys and Games in the New Normal Scenario, Ms. Irani said that we (Government and industry), under the aegis of FICCI Toys Committee, need to articulate incessantly on issues concerning the pedagogical impacts of toys. “One of the biggest challenges for the industry indigenously is the massive influx of toys from overseas. Given the current industry estimates, between $1-1.5 billion, to have most of their revenue from imported toys tells us the expansive opportunity that is before us,” she said.
Ms. Irani stated that the National Education Policy also speaks about the joy of learning with toys. Children between the age of 3-8 years will learn with toys, transform their educational experiences such that outcomes are strengthened and better. “We should also explore the price points that can attract these consumers to toys that are Made in India.”
The Ministry of Education is engaging with states, schools, boards, and institutions for enhanced participation from the consumer of toys- parents and children. “Through this platform when a parent or child engages with the company to pick a toy, they will also have access to the map of India that has mapped toy needs and pedagogical impact of that toy.”
She concluded “That transformational journey will begin with the India Toy Fair 2021 and FICCI’s journey that takes pedagogical needs of over 249 million school going children and marries it with the needs of the Indian toy industry, is to be lauded.”
Ms. Alka Nangia Arora, Joint Secretary MSME, shared various schemes of the Ministry to support toy sector and also urged the industry to collaborate with the Technology Centres of MSME Department.
