Smriti Irani launches investment in Indian toy market

Smriti Irani launches investment in Indian toy market

New Delhi, February 12 (KNN) Minister of Women and Child Development and Textiles, Smriti Zubin Irani, said on Friday that there is considerable opportunity for Indian and global companies to invest in India’s toy sector.

Addressing the 2nd Virtual Edition of the FICCI Seminar on the Value of Play – Toys and Games in the New Normal Scenario, Irani said, “We (government and industry), under the auspices of the Toys Committee of the FICCI, must constantly express ourselves on questions concerning the educational impact of toys. ”

“One of the biggest challenges for the local industry is the massive influx of toys from overseas. Based on current industry estimates, between US $ 1 billion and US $ 1.5 billion to derive the bulk of their revenue from imported toys indicates the expansive opportunity before us, ”she said. added.

Highlighting the impact of digital play during the pandemic, Irani urged the FICCI toy committee to help reflect on the impact of digital play, especially on the country’s consumption base.

Irani said the national education policy also talks about the joy of learning with toys. Children aged 3 to 8 will learn with toys, transform their educational experiences in a way that results are reinforced and better, she said.

India, she said, has a large number of families in the middle-income group, one of the largest consuming sections.

“We should also explore the prices that can attract these consumers to toys made in India,” she added.

Speaking on the India Toy Fair 2021, Irani said more than 1,000 companies have joined the team, including some of the biggest domestic and international brands. The Department of Education engages with states, schools, councils and institutions for increased participation of toy consumers – parents and children.

“Through this platform, when a parent or child engages with the company to choose a toy, they will also have access to the map of India which has mapped the toy needs and educational impact. of this toy, which is locally available from kindergarten to college. education. This is done first in our country, ”she noted.

Irani further stated that we have had knowledge systems unique to our country which have never been transformed by cultural creation in the Indian toy industry.

“This transformational journey will begin with the India Toy Fair 2021. The FICCI journey which takes into account the educational needs of over 249 million schoolchildren and marries it with the needs of the Indian toy industry, must be greeted, ”she added.

Anil Agrawal, Additional Secretary, DPIIT said they are looking to support the design of toys based on Indian culture. He urged the industry to look at the specific ease of doing business issues impacting the toy industry.

“The government is also considering developing toy clusters,” he said.

R Ramanan, Mission Director and Additional Secretary, Atal Innovation Mission, NITI Aayog said that the government and the Atal Innovation Mission are focusing on toys and games as a means of stimulating the creativity, innovation and capacities of our young people. .

“The Atal Tinkering Labs are the first step in the national education policy that rolls out its program to ensure that toys provide simulation, whether digital games or physical games,” he said. added.

Alka Nangia Arora, MSME Co-Secretary, shared various ministry programs to support the toy sector and also urged the industry to collaborate with the technology centers of the MSME department.

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