New Delhi: Indian toy manufacturers have struck gold at the international stage with massive orders exceeding $10 million following their participation in the five-day international toy fair held in Nuremberg, Germany, from January 30 to February 3, 2024. Exporters have attributed this success to the display of high-quality products that garnered immense appreciation from global buyers.
The Indian toy industry acknowledged the pivotal role played by Government Initiatives, including mandatory quality norms, increased custom duty, and the National Action Plan on Toys (NAPT). These initiatives have contributed to the production of top-notch toys, propelling India’s standing on the international platform. The industry is witnessing robust growth and successfully competing with global players.
Wooden toys and educational learning toys emerged as the most popular categories at the fair. Buyers from countries such as the US, UK, South Africa, and Germany displayed keen interest in Indian products and placed substantial orders. With over 55 participants from India, the manufacturers highlighted a significant shift in buyers’ perceptions, citing India as a lucrative alternative sourcing destination.
Indian toy makers emphasized the growing recognition of ‘Made in India’ toys on the global stage, attributing it to Prime Minister Shri Narendra Modi’s call for Toyeconomy. The international platform has not only opened doors for increased exports but has also paved the way for potential international joint ventures, with the Indian manufacturing ecosystem gaining global acceptance.
The industry’s success in Germany has set the stage for future collaborations with renowned international players, including Snapdeal and Walmart. The concerted efforts of the government and the industry have positioned the sector for further success in both the international and domestic markets.
The Nuremberg International Toy Fair, concluding on February 3, 2024, witnessed participation from over 2,000 exhibitors representing more than 65 countries. The exceptional performance of Indian toy makers highlights the country’s potential as a global leader in the toy industry, fostering optimism for continued success in the years to come.