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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102243) | |
1661. Reliance Retail enters into joint venture for toy manufacturing with Haryana-based firm
- on 23 April 2023, Reliance Retail has formed a joint venture with Circle E Retail, a Haryana-based toy manufacturer, to vertically integrate its toy business.
- Focus on manufacturing toys for Reliance's brands, Hamleys and Rowan, and aims to control the entire toy ecosystem. Reliance owns 100+ Hamleys stores across 36 Indian cities, with a global footprint in over 15 countries.
- Indian toy market valued was USD 1 billion in 2019–20 and is projected to double to USD 2 billion by 2024–25. strengthening its offerings across both B2B and B2C segments.
- Circle E Retail specializes in toy manufacturing, operating a modern unit licensed to manufacture and distribute a wide range of toys—a strong foundation for Reliance's ambitions.
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1662. Indian toy industry grows 316 per cent in the last nine years: Ministry of Commerce and Industry
- 2 June 2023, The Indian toy industry has grown by 316% over the last nine years, with exports rising from $36.91 million in 2013-14 to $153.88 million in 2022-23, though slightly down from the peak of $177.04 million in 2021-22.
- Government initiatives like 70% import duty, the Quality Control Order (QCO), and the National Action Plan for Toys (2020) involving 15 ministries. The Indian toy market is expected to reach $3 billion by 2028, growing at a 12% CAGR.
- Indian companies, like Hungry Brain, are exporting to 25+ countries. Regular toy fairs and exhibitions are expanding visibility and international market access. China still dominates due to large-scale production and subsidies, but Indian manufacturers are growing in dolls, board games, sports toys, and promotional toys.
- The Indian toy industry is expected to reach $3 billion by 2028, growing at a 12% CAGR. Over 4,000 MSMEs are currently active in the sector.
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1663. Centre takes proactive steps to boost world-renowned Kondapalli toys
- The Central Government launched the SFURTI scheme to support Kondapalli toy artisans by merging 27 societies with 206 artisans into one platform. The goal is to streamline training, raw material supply, toy production, and marketing support.
- NI-MSME and DRDA are implementing agencies aiming to upgrade artisans' skills using modern techniques while offering business and marketing guidance.
- A total of ₹172.50 lakh has been allocated, with 90% from the government and 10% from artisans. MP Kesineni Srinivas (Nani) contributed ₹29.50 lakh to support artisans. A new facility with 16 workshops was built, replacing the old 1963 structure, with plans for 32 more.
- A 50% subsidy will be provided for sourcing white pine due to scarcity. MP Nani also plans to involve Tata Trust for global marketing opportunities, while local artisans appreciate the scheme's role in preserving their traditional craft.
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1664. More jobs, boost to manufacturing, toys export: Union Minister Ashwini Vaishnaw explains Make in India success
- In 2023, a total of 762 billion dollars of exports was recorded. Out of this, 453 billion dollars was merchandise exports, services exports were 309 billion dollars. people get jobs and small and micro industries generate employment.
- More than half of India’s total exports in FY23 were merchandise exports, marking a shift from the past. 10–15 years ago, India’s exports were dominated by services.
- The shift in export pattern is attributed to the boost in manufacturing under the Make in India programme which help in Job creation for local people, Employment in small and micro industries and Increased income and economic development through higher exports.
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1665. Global American toy retailer toys 'R' US to make in India from next year
- India's toy market reached a value of $1.5 billion in 2022 and is projected to reach $3 billion by 2028 growing at a CAGR of 12.2%. Toys 'R' Us, the global toy retailer, is set to manufacture private label products in India by 2024.
- The company aims to make India one of its top five global markets, supported by a partnership between WHP Global, Flipkart, and Ace.
- This expansion includes a goal of opening 75 small-format stores (8,000–12,000 sq ft) across India till 2025, while maintaining strong e‑commerce presence.
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1666. Government initiatives propel Indian toy exports; more support needed
- on 13 June 2024 announced that, India’s toy exports increased significantly from US$ 96.17 million in 2014-15 to US$ 325.72 million in 2022-23, indicating strong global demand for Indian-made toys.
- Toy imports fell by 52%, from US$ 332.55 million to US$ 158.7 million, due to increased import duties and promotion of local manufacturing.
- The government launched initiatives like the National Action Plan for Toys (NAPT) and proposed extending the Production Linked Incentive (PLI) scheme with an INR 3,489 crore outlay to boost domestic production and job creation.
- The DPIIT organized workshops with Flipkart and Walmart to train toy manufacturers in online selling, market access, and quality standards, helping them integrate into the global toy supply chain.
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1667. Indian toy industry shows robust growth as exports surge
- Indian toy exports reached $523.24 million, FY 2011–12, when India imported $422.79 million in toys and exported less half of that.
- Between FY 2014–15 and FY 2022–23, exports of toys, games, and sports items increased by 239%, The current toy market is valued at about $1.7 billion, projected to reach $4 billion by 2032 Global Reach.
- The current market size of the Indian toy industry is $1.7 billion, and expected industry is $1.7 billion, and expected to reach $4 billion by 2032 with a 10.5 % annual growth rate. Indian toys are now exported to over 100 countries.
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1668. India's toy industry beats China with high tariffs and quality checks
- Imports from China (FY20 to FY24) Fell from $235M to $41M – 80% drop. import duty hike (20% → 70%) Quality Control Order (QCO).
- Grew from $40M (2014–15) to $152M (2023–24) Global Market Share of India: 0.3% of global exports; China: 80%, India’s domestic toy market share is $3Billion.
- Global toy market is $108B, Industry Expansion Firms like Playgro, Funskool, Aequs expanding in Ujjain & Koppal with High tariffs, QCO, hackathons, cluster development
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1669. Govt's push to toy manufacturing boosted Aatmanirbharta: PM Modi
- On 20 January 2025, The Indian toy industry now expanded at global level or more than 100 countries including USA, UK, and even China the Government of India has identified the sector to create global market to make in India toy.
- Between 2014-15 to 2022-23 increased by 239 %. Import Down 52% – from $332.6 million to $158.7 million. Domestic Market Size: $1.7 billion, projected to reach $4 billion by 2032 (10.5% CAGR).
- BIS Certification: Mandatory for all toys; 30,000+ substandard toys seized recently. PLI Scheme ₹3,489 crore proposed in Budget; ₹1 lakh token amount allocated.The Indian toy industry now expanded at global level or more than 100 countries including USA, UK, and even China the Government of India has identified the sector to create global market to make in India toy. Between 2014-15 to 2022-23 increased by 239 %. Import Down 52% – from $332.6 million to $158.7 million. Domestic Market Size: $1.7 billion, projected to reach $4 billion by 2032 (10.5% CAGR). BIS Certification: Mandatory for all toys; 30,000+ substandard toys seized recently. PLI Scheme ₹3,489 crore proposed in Budget; ₹1 lakh token amount allocated.
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1670. Toy stocks in focus- Budget 2025 announces plans to make India toy hub
- In Budget (1 February 2025), Finance Minister of India announced a national action plan to make India a global hub for toy manufacturing. The initiative is created around 22 lakh jobs across the country. Ok Play India’s share price rose by 2.10% to Rs 17, reflecting positive market.
- The government will set up special toy manufacturing clusters and promote skill development to support this vision. the production of eco-friendly and sustainable toys under a recognized Indian brand identity.
- The policy announcement led to a positive stock market response, with Ok Play India’s stock rising 2.10%. India’s toy export potential is projected to cross ₹1.1 lakh crore, potentially adding ₹400 crore in revenue to the national economy.
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