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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (102772) | |
1681. Micro Plastics India to set up toy manufacturing facility with Rs 500 cr investment in Tamil Nadu
- On 19 May 2022, Micro Plastic India Ltd set up a toy manufacturing plant at Hosur in Tamil Nadu with an investment of Rs 500 crore. Micro Plastics India Ltd has leased a 7,00,000 sq ft.
- Industrial space in Hosur for the setting of India's largest toy manufacturing plant and expected to generate employment to the tune of 6,000 in the next 3 to 4 years.
- The company expects a 300% growth in the next few years, aiming to make India one of the top toy manufacturing hubs in Asia.
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1682. India’s tyre exports hit an all-time high of 25,051cr in FY24-25
- On 2 July 2025, it was reported in Chennai, based on Commerce Ministry data, that India’s tyre exports hit a record ₹25,051 crore in FY24-25, registering a 9% increase from ₹23,073 crore in the previous fiscal, despite global headwinds and proposed US tariffs.
- India exports tyres to 170 countries, with farm and off-the-road (OTR) tyres contributing 60% of the export value. The US (17%), Germany (6%), and Brazil (5%) are major buyers. The industry has invested ₹27,000 crore in new and expanded facilities and is actively diversifying its markets amid trade uncertainties.
- With a turnover of ₹1 lakh crore, 25% of the Indian tyre industry's revenue comes from exports. A PwC Vision report forecasts the sector will grow at a CAGR of 11–12% until 2047, fueled by increased focus on R&D and infrastructure expansion.
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1683. Centre approves Rs 1,900 crore plan for PM MITRA park in Virudhunagar
- On July 01, 2025, in Chennai, Union Textiles Minister announced the approval of a ₹1,894-crore project for developing the PM MITRA Textile Park at Virudhunagar district, Tamil Nadu, as part of the central flagship scheme for the textile sector.
- The 1,052-acre park, finalized after negotiations between the Tamil Nadu government and the Centre, will feature technical textile units, effluent and sewage treatment plants, worker accommodations, and plug-and-play factory spaces.
- Tamil Nadu joins six other states (Telangana, Karnataka, Maharashtra, Gujarat, Madhya Pradesh, and Uttar Pradesh) selected for PM MITRA parks, reinforcing its status as India’s top textile exporter and pushing for further industrial growth and employment generation.
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1684. 100th indigenously manufactured stealth frigate Udaygiri delivered to Indian Navy
- The delivery of the indigenously-built stealth frigate Udaygiri On 01 July, 2025 at Mazagon Dock Shipbuilders Limited (MDSL), Mumbai, marked a milestone as the 100th ship designed and delivered by the Indian Navy's Warship Design Bureau.
- Udaygiri was constructed using the 'Integrated Construction' method, enabling faster build time (delivered in 37 months from launch).
- Udaygiri symbolizes Atmanirbhar Bharat in shipbuilding, with major indigenous components, and reflects a quantum leap in India’s naval design capability. The remaining five ships of the P17A class are under construction at MDSL and GRSE and are scheduled for delivery by 2026.
1685. Reliance brands to buy 40%in Italian company India's toy manufacturing business
- Reliance Brands Ltd (RBL) to acquire 40% stake in Dream Plast (Pune, India), the Indian toy manufacturing arm of Italian firm Plastic Legno and Investments-In 2019, RBL acquired British toy retailer Hamleys for ₹620 crore.
- Global players like IKEA are increasingly looking to source toys (especially wooden) from India and RBL plans to position India as a global toy manufacturing hub, not just for domestic but export markets as well.
- The aim is enhancing vertical integration—connecting design, manufacturing, and retail—and diversify RBL’s supply chain by building a robust toy manufacturing platform in India. The Atmanirbhar Bharat vision, the partnership blends Plastic Legno’s 25+ years of European toy manufacturing expertise with RBL’s extensive global retail reach through brands.
- Dream Plast operates three factories using plastic injection molding. The JV merges this manufacturing prowess with RBL’s retail capabilities through Hamleys’ presence in 15 countries and Rowan’s Indian markets.
- This investment supports government efforts to strengthen domestic toy manufacturing, complementing initiatives like the eight toy clusters with ₹2,300 cr funding, aiming to reduce the 85% import dependence and capitalize on the global $100 billion toy market.
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1686. Delhi to Jaipur in three hours as trial run on new expressway link begins
- On July 2, 2025, A 10 day toll free trial began on the new 66.9 km Bandikui to Jaipur Link Expressway, connecting Jaipur Ring Road to the Delhi-Mumbai Expressway. This link is expected to significantly ease travel between Delhi and Jaipur.
- Travel time cut to just 3 hours With the expressway now operational the usual 5 to 6 hour drive between Delhi and Jaipur is reduced to around 2.5 to 3 hours, thanks to a smooth high speed corridor with a speed limit of 120 km/h.
- Safety and quality checks ongoing During the trial period, the National Highways Authority of India is carrying out detailed inspections, including at the Khuri interchange to ensure the road meets safety standards before tolling begins.
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1687. To Infinity and Beyond: How India is Writing its Own Toy Story
- India’s toy market is forecast to hit ₹90,000 crore by 2025, growing at about 17–20% annually. The PLI scheme brings in ₹2,200 crore to ramp up local production.
- Over 150 toy clusters are being built, creating around 50,000–70,000 jobs. The latest government data shows that the import of toys came down by 70% in the last three years and the exports have jumped by 61.38%
- Government encouraged toy makers to promote Indian culture and values through toys. This helped increase local production and export due to strict quality rules (BIS certification) by the government.
- India now has 8 toy manufacturing clusters to make traditional and safe toys. These clusters are creating jobs and helping India meet global standards. Import tax on toys was raised from 20% to 60% in 2020. Poor-quality Chinese toys were also restricted, helping Indian brands like Ariro Wooden Toys grow.
- India’s own cartoon characters like Chhota Bheem are becoming popular. Experts believe they can become global like Barbie with more support.
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1688. Union Cabinet Approves ₹1,853 Crore Four-Lane Highway Project in Tamil Nadu
- On July 2, 2025, The cabinet approved upgrading a 46.7 km stretch of NH-87 between Paramakudi and Ramanathapuram in Tamil Nadu into a four lane highway under the Hybrid Annuity Model.
- The upgraded route will connect five national highways and three state highways, integrating with major transport nodes like Madurai airport and railway stations and ports at Pamban and Rameshwaram.
- The project is estimated to generate about 840,000 direct and 1.045 million indirect person days of employment addressing congestion along the Madurai to Rameshwaram corridor.
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1689. Government providing all round support to domestic toy industry
- Toy exports increased by 61.38% (from USD 202M in FY 2018–19 to USD 326M in FY 2021–22), while imports decreased by 70% (from USD 371M to USD 110M).
- Government enforced BIS certification for all toys (domestic and imported) from Jan 2021, and DGFT made sample testing of every consignment mandatory.
- Basic Customs Duty on toys was raised from 20% to 60% in Feb 2020 to discourage cheap imports. Events like Toycathon 2021 (1.2 lakh participants) and India Toy Fair 2021 (1074 exhibitors, 25 lakh visitors) were held to boost innovation and awareness.
- Under the SFURTI scheme, 19 toy clusters across 9 states were approved to benefit 11,749 artisans with ₹55.65 crore support. Under the India–UAE CEPA (from May 1, 2022), Indian toys now enjoy zero duty market access in the UAE, boosting exports.
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1690. Indian toy manufacturers bolster production as demand rises; eye global markets
- Government policies have boosted domestic manufacturing and helped the industry to explore global markets and enhance exports. import in India has decline from USD 304 million in 2018-19 to USD 36 million in 2021-22.
- Customs duties on imported toys were hiked (Basic Customs Duty increased from 20% to 60% in Feb 2020), and mandatory BIS certification.
- Despite import reduction, toy exports grew from US $109 m in 2018–19 to US $177 m in 2021–22, highlighting India’s improving competitiveness in global markets
- Retail toy sales in India stood around ₹20,000 crore pre-pandemic and have continued to grow, with projections suggesting India’s toy industry could double from US $1 billion in 2019–20 to US $2 billion by 2024–25.
- Industry leaders are calling on the government to introduce a Production-Linked Incentive (PLI) scheme and a dedicated national toy policy or export promotion council to further boost manufacturing capacity, employment, and global competitiveness.
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