Government plans to set up 35 toy clusters across India
25 February 2021: Under the Scheme of Fund for Regeneration of Traditional Industries (SFURTI), the Department for Promotion of Industry and Internal Trade (DPIIT) and the Ministry of Micro, Small and Medium Enterprises (MSME) are planning to develop many toy clusters. A widespread online media reports mentioned that the Government has approved eight toy manufacturing clusters with an outlay of Rs.2,300 crore in various states such as Madhya Pradesh, Rajasthan, Tamilnadu, Karnataka and Uttar Pradesh.
As reported, the Government plans to establish a total of 35 toy clusters across the nation. These clusters will manufacture toys made of wood, lac, palm leaves, bamboo and fabric. These approvals come ahead of the India Toy Fair-2021 to be held from 27 February to 2 March 2021.
As reported earlier by our portal, Global Market Research firm, IMARC estimates India’s toy market to be worth around Rs.10,000 crore. Of this, the organised toy industry is estimated to be Rs.3,500-4,500 crore and homegrown toys constitute just 12-13% of this. The Indian toys market was worth US$ 1.75 Billion in 2019. Indian toys market expected to show a strong growth during 2020-2025. As such the All India Toy Manufacturers’ Association (TAITMA), the apex body of the toy industry, is of the view that the toy industry in India has tremendous potential to raise its productivity, create employment and for all around development of the economy. The industry also presents vast potential for export of toys, dolls, games and playthings.
It may be noted that the Uttar Pradesh state government had received as many as 92 proposals from Indian toy manufacturers to set up production units. It may be noted that the UP government has proposed to set up a toy manufacturing hub near Jewar airport in Greater Noida. Once the entire 100 acre land is allotted, the government is expecting investment up to Rs.3,000 crore.
Similarly, as reported by our portal earlier, the Karnataka government has also announced a Rs.5,000-crore toy cluster in Koppal. The state government has identified 100 acre land and manufacturers can apply for different plot sizes ranging from 1,000 sq. mtrs. to 10,000 sq. Mtrs.
