Phased mnfg programme, dedicated policy to help promote growth of toy industry: Report

The government measures like phased manufacturing programme, implementation of a dedicated policy, and simplification of mandatory compliances will help promote the country's toy industry, according to a report.

The Ficci-KPMG report also suggested the development of toy design centres, with a focus on R&D to encourage innovation; leveraging National Education Policy 2020 to push local artisans, and increasing the number of labs for the toy sector.

The Indian toy market, which is currently estimated at USD 1 billion, presents a ''2x'' growth opportunity by 2025, it said, adding India could target a 2 per cent share of global exports by 2025.

There is a high growth potential for India in exports of plastic toys and board games in the USA, EU and the Middle East among other markets, the report noted.

It also said that the need for de-risking supply chains has presented India with another opportunity to embrace its heritage and inherent advantages in skill and technology to become a global player in the industry.

''Toys categories such as Dolls, Soft Toys, Baby and Infant and Pre-school are highly labour intensive with good potential for manufacturing capabilities in India and easy to penetrate the export market, except for items that require decorations and similar value additions where the productivity levels are significantly lower (30-40 per cent) than China,'' it said.

India has limited manufacturing capability in battery-operated, electronic and technology-based toys, but can be scaled up in the medium to long-term period, the report added. ''Labour-intensive sub-segments constituting 50-60 per cent of the toy market can scale up immediately in India, giving an indigenisation push to these segments, which could, therefore, provide enormous impetus to job creation. There is also a significant scope for growth in gross value addition with the inclusion of unregistered units in India,'' the report said.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)