India has the potential to become a successful global toy manufacturing hub and compete with China’s inferior and poor quality imports, according to PHD Chambers of Commerce and Industry.
In this regard, India should come out with more quality control
orders and technical regulations for different products to meet the global standards in the toy industry, Mr Sanjay Aggarwal, President, PHDCCI, said in a release here.
There was a need for large-scale investments in infrastructure, increased investments in innovation and research and development (R&D), massive skill development, among others to ensure long-term competitiveness of the toy industry and enhance the image of Brand India globally, Mr Aggarwal opined.
“It becomes crucial for India to think big and be ready with a strategy to further build capacities, bring in economies of scale, and improve price competitiveness to make its export toys more relevant and appealing to the global buyers,” the release added.
Mr Aggarwal suggested that focus should be put upon building a value chain ecosystem of toys in the country instead of importing components and doing assembling activities. This will increase India’s economies of scale, reduce cost, ensure quality & dependability, increase traceability and help in maintaining speed of delivery. These are the crucial elements which will make Indian toy export products attractive at the global level, he added.
Enhanced ease of doing business is also crucial for the overall growth and development of the toy industry as it will attract foreign investments and provide a considerable boost to the domestic businesses. At this juncture, the actual implementation of the measures in enhancing ease of doing business and reducing transaction costs are the most essential steps, the PHDCCI President opined.
Mr Aggarwal called upon the consumers to play a significant role in boosting the growth of Indian toy industry by shifting their preference from imported toys to locally manufactured toys.
Consumers have to re-orient their habitual behavior of buying low quality and cheap imported toys towards safe and quality domestically produced toys. On the other hand, the Government also has to play an important role by facilitating and further enhancing the market linkages of India’s traditional toy makers and at the same time creating a new market demand for these traditional toys through efficient promotion and marketing strategies, Mr Aggarwal opined.
