Focus on the “toy economy”: Prime Minister Modi’s appeal to the Indian toy industry

Noting that India’s share of the $ 100 billion global toy market is only around $ 1.5 billion, Prime Minister Narendra Modi on Thursday stressed that the focus should be on “l ‘toy economy’ by advising the country’s game and toy industry to play an important role in this sector. .

Focusing on the toys and games sector, the prime minister said that the country’s millions of rupees going abroad can be saved.

“Today we also import around 80 percent of our toys. That is, millions of the country’s rupees are spent on them. Today, the world wants to understand the current potential of toys. “India, India’s art-culture, Indian society in a better way. Our toy and game industry can play a big role in this,” Prime Minister said, addressing participants of the Toycathon-2021 by videoconference.

Over the past five or six years, the Prime Minister has said that hackathons have become great platforms for solving the country’s problems and the idea behind it is to organize the country’s potential and give it support.

“The effort is for our young people to be directly connected to the challenges and solutions of the country.”

The Prime Minister mentioned that if the child’s first school is the family, then the first book and the first friends are these toys. “The child’s first communication with society is through these toys.”

“There is another very important aspect associated with toys that everyone should know about. It is the economics of the toy and game world – Toyconomy.”

Stressing that most of the online or digital games available in the market are currently not of Indian concept, the Prime Minister told attendees to take advantage of this loophole as the concepts of many games promote violence or cause mental stress.

Toycathon 2021 was jointly launched by the Ministry of Education, Ministry WCD, Ministry of MSMEs, DPIIT, Ministry of Textile, Ministry I&B and the All India Council for Technical Education (AICTE) on January 5 this year. year to research ideas for innovative toys and games.

The event aimed to boost the toy industry in India to help it capture a larger share of the toy market.

About 1.2 lakh of participants from across India registered and submitted over 17,000 ideas for the 2021 Toycathon, of which 1,567 ideas were shortlisted for the three-day online grand finale of the Toycathon, to be held from June 22 to 24. Due to Covid- 19 restrictions, this grand finale will have teams with digital toy ideas, while a separate physical event will be held for non-digital toy concepts.

India’s domestic market as well as the global toy market provide a huge opportunity for our manufacturing sector.

–IANS

rak / skp /

(Only the title and image of this report may have been reworked by Business Standard staff; the rest of the content is automatically generated from a syndicated feed.)

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