In push for Aatmanirbhar Bharat, Noida set to become India’s toy production powerhouse

India's Rs 12,000-crore toy market is heavily dependent on exports with a meagre 20 percent of it being manufactured domestically. The Toy Park is expected to bring a turnaround to make India 'aatmanirbhar' in the sector.

Noida is set to become India's toy production powerhouse, with the ability to compete with China's gigantic toy sector. The Yamuna Expressway Industrial Development Authority (YEIDA) has planned to set up a Rs 1,000-crore 'Toy Park' that will have the potential to end the current monopoly of China in the toy market.

In 2010, YEIDA had decided to develop the Toy Park spread over 100 acre of land in Sector 33 in the region along the 165-km Yamuna Expressway that connects Greater Noida with Agra. The project got delayed for some reason or other but was never shelved. The authority has now revived the project as at least 70 toy manufactures have shown interest in setting up their units there.

Speaking on the initiative, YEIDA CEO Arun Vir Singh said that after Prime Minister Narendra Modi called for a push to the toy industry in India, they decided to approach the Toys Association of India. "They came here in a big way and most of them are already here. We have allotted 136 plots and developed the same. Now they are getting their registry done, and by the end of March, they will also start constructions. So three parks are already ready to be launched," said Singh.

The Toy Association has welcomed the project saying it will make India self-reliant in the segment. "Toy business has an annual revenue of Rs 12,000 crore in our country and a majority of the supply comes from China, owing to their cheaper rates. But Toy Park products can change the market. This project will help the consumer get the best quality products at reasonable rates," said N.K. Gupta, convener of the association.

PM Modi's 'vocal for local toys' call

Calling on people to be "vocal for local toys", Prime Minister Narendra Modi last year said about 80 percent of the toys were being imported by India with crores of rupees going abroad and asserted that it was very important to change this situation.

Pointing out that India's share is only about $1.5 billion (over Rs 11,000 crore) in the global toy market of approximately $100 billion (Rs 8 lakh-crore), PM Modi pitched for improving the country's standing in what he called 'Toyconomy' or the economic aspects of the toys and gaming industry.