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July 2022
Kids India 2022 Provides A Platform To Companies To Join The Growth Story Of
Toy Industry n the year 2020, global toy industry stood at around USD 95 billion, of which India's share was a little over 1%. This is a significantly small number for a country which is the second most populated in the world and has over 300 million children in the age group 0-14 years. However, this small size also means there is a tremendous opportunity to grow this sector, on the back of country's strong economic growth, a large domestic market, rising disposable income, low domestic per capita spend on toys and new channels for sales such as e-commerce.
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story- Unboxing fun and beyond' by KPMG-FICCI projects a two-fold growth opportunity for the Indian toy market by 2025. While providing significant insights into the Indian toy industry and its growth potential, it highlights that India not only has a high export potential in toys such as dolls made of plastic and wood, the country could also become a major hub for electronic toy exports such as STEM toys, video game consoles, etc. India could target a 2 per cent share of global exports by 2025 by focusing on high value toy exports to USA, EU and Middle East, India could earn export revenues in the range of USD0.9 Mn – USD4.4 Bn.
A recent report 'State of play: India's toy Recently domestic toy industry has witnessed renewed focus and a flurry of activities. Toys have been identified as one of the key sectors under Aatmanirbhar Bharat Abhiyan and various initiatives have been taken both by the Central and State Governments towards
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building a world class toy ecosystem in India and fast track the growth of this sector. A National Action Plan focused on using toys as a pedagogical tool, strengthening domestic manufacturing & exports, monitoring quality, introducing new designs and innovations, setting up indigenous toy clusters, promoting toy tourism, skills development etc. has been put together in consultation with several central ministries and departments. Multiple states across the country have announced cluster development programs to support toy manufacturing. Furthering the government's initiative Mr. Vivek Jhangiani Past President of The All India Toy Manufacturers Vivek Jhangiani Association (TAITMA) states that TAITMA as an industry association has always worked for the development of the industry.
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