New Delhi: Union Minister of State for Commerce and Industry and Electronics & Information Technology, Jitin Prasada, encouraged the toy industry to support Indian artisans and nurture creativity and imagination through toys that inspire and educate children across the globe. While delivering the keynote address at the ‘2nd Edition of Toy CEO Meet’ organised by the Toy Association of India in association with the Department for Promotion of Industry and Internal Trade (DPIIT) and Invest India, in New Delhi on 8 July 2024, the Minister highlighted the vision of the Prime Minister, Narendra Modi, of “Sabka Saath, Sabka Vikas, Sabka Vishwas”. He also motivated the participants to continue collaboration and celebrate India’s toy-making legacy.

The 2nd Edition of Toy CEO Meet provided a platform for collaboration between the Indian and global toy industry, with the aim of working towards the mission of positioning India as a global toy hub. The event was attended by prominent global players including Walmart, Amazon, Spin Master, IMC Toys, and members from the domestic toy industry including Sunlord Apparels Manufacturing Company Pvt. Ltd., Playgro Toys India Pvt. Ltd., etc.

Secretary, DPIIT, Rajesh Kumar Singh, while addressing the participants, highlighted that the initiatives of the Government together with the endeavours of the domestic manufacturers have resulted in remarkable growth of the Indian toy industry. These developments indicate India’s increasing self-reliance and enhanced manufacturing prowess in toy manufacturing, he said.

Joint Secretary, DPIIT, Sanjiv, applauded the efforts made by the Indian toy industry, especially the Toy Association of India, for the successful organisation of the 15th Toy Biz International B2B Expo. He encouraged the toy industry members to continue engaging with DPIIT in case of any challenges and expressed that the mission is to make Indian toys synonymous with quality, uniqueness, innovation, and sustainability.

While discussing the investment opportunities in India for toys, CEO & MD of Invest India, Nivruti Rai, highlighted that India has a huge market potential for investment due to expanding toy demand with a growing young population.

During the stakeholder discussions, global players such as Walmart, IMC Toys, and Spin Master spoke about their own growth stories and expressed enthusiasm to expand operations in India. The vision shared by the speakers provided the audience with insights on the Indian toy industry and opportunities for growth and collaboration. The event has played a pivotal role in harnessing synergies, leveraging complementary strengths, and capitalising on emerging opportunities in the global marketplace for the Indian toy industry.

This event was part of the 15th edition of the India Toy Biz International B2B Expo, one of the largest toy fairs in the country, which has brought together prominent global and domestic toy manufacturers, artisans, retailers, and Government officials to harness the burgeoning opportunities in the domestic toy sector.

/BI