India’s Toy Industry Can Use G20 Members’ Expertise To Enhance Domestic Manufacturing

Industry experts stated that India can study the US, which has a really strong toy market, and understand their approach and tactics to increase domestic consumption of toys.

Most G20 member countries import toys, and this provides a great opportunity for Indian domestic players.

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The Indian toy industry can benefit from the experience and knowledge of G20 member countries like the US and China, sector experts believe. Manu Gupta, chairman of the Toy Association of India (TAI), stated that the expertise of these nations can help the domestic toy industry strengthen it’s manufacturing capabilities and exports. 

Talking about the G20 Presidency of India, Gupta noted that the summit has given an opportunity to display India as a lucrative investment destination. He added, “In G20 we have both, the biggest producers and consumers of toys in the world. From the US, India can learn about improving per capita consumption of toys as they are excellent learning tools for kids,” as reported by PTI. 

The association head further stated that India can study the US, which has a really strong toy market, and understand their approach and tactics to increase domestic consumption of toys. Praising China as the world’s toy factory, Gupta added that India can use it’s strengths such as the workforce and it’s technological expertise, and add to them by studying China. He noted, “Learning from China's expertise in mass production, efficiency, and cost-effectiveness can contribute to the growth and competitiveness of India's toy manufacturing industry.”

Naresh Kumar Gautam, TAI’s senior vice president, added that India has great potential in the toy industry because of its skilled workforce and ability to cater to the global market. He noted that the government is undertaking measures to enhance the competitiveness between manufacturers and said, “The upcoming toy cluster in Greater Noida is going to provide a huge boost to manufacturing. About 135 companies have been allowed land for units.”

Gupta noted that most G20 member countries import toys, and this provides a great opportunity for Indian domestic players. Notably, the share of G20 countries in India’s merchandise export stood at 64 per cent and contribution to import stood at 52.4 per cent in 2022.