New Delhi: The Union Minister of State for Commerce and Industry and Electronics & Information Technology, Jitin Prasada, has urged the toy industry to support Indian artisans and nurture creativity and imagination through toys that inspire and educate children worldwide. Delivering the keynote address at the ‘2nd Edition of Toy CEO Meet’ on July 8, 2024, organized by the Toy Association of India in collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT) and Invest India, the Minister highlighted Prime Minister Narendra Modi’s vision of “Sabka Saath, Sabka Vikas, Sabka Vishwas.” He encouraged participants to continue their collaboration and celebrate India’s rich legacy in toy making.
The 2nd Edition of Toy CEO Meet aimed to foster collaboration between the Indian and global toy industries to position India as a global toy hub. The event saw participation from prominent global players such as Walmart, Amazon, Spin Master, and IMC Toys, alongside key domestic industry members including Sunlord Apparels Manufacturing Company Pvt. Ltd. and Playgro Toys India Pvt. Ltd.
Addressing the participants, Secretary of DPIIT, Rajesh Kumar Singh, highlighted the significant growth of the Indian toy industry, attributing this success to government initiatives and the efforts of domestic manufacturers. He emphasized India’s increasing self-reliance and enhanced manufacturing capabilities in toy production.
Joint Secretary of DPIIT, Sanjiv, praised the Indian toy industry, especially the Toy Association of India, for successfully organizing the 15th Toy Biz International B2B Expo. He urged industry members to engage with DPIIT to address any challenges and reiterated the mission to make Indian toys synonymous with quality, uniqueness, innovation, and sustainability.
CEO and MD of Invest India, Nivruti Rai, discussed the vast market potential for investment in India’s toy industry, driven by growing demand from a young population. She emphasized the investment opportunities available due to the expanding toy market.
Global players like Walmart, IMC Toys, and Spin Master shared their growth stories and expressed enthusiasm for expanding operations in India. The insights provided by the speakers underscored the opportunities for growth and collaboration within the Indian toy industry. The event played a crucial role in harnessing synergies, leveraging complementary strengths, and capitalizing on emerging opportunities in the global marketplace for Indian toys.
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