Indian Toy Industry Plans To Reach ‘World Toy Hub’ Target

As we all know, over the years China has been playing the role of the “world’s factory”, because the various industrial chains are very well developed, the labour force is strong, so the level of manufacturing is well developed, the production of all kinds of goods are exported to foreign countries all year round, but also for many foreign countries to provide industrial manufacturing parts and technical support and so on .

India’s Multiple Initiatives To Develop The Toy Industry

One of these countries is India, which is perennially dependent on China for some of its manufacturing industries. Over the years, China has been providing India with manufacturing technology, talent, resources, etc., which has helped its industrial development.

Recently, Indian Prime Minister Narendra Modi made a speech that has caused a lot of concern as it relates to the competition in the toy industry market, and the connection is quite “special”.

On 30 August, Modi said in his speech that the global toy industry is now worth over 700 billion rupees (about US$10.23 billion) and India’s share is very small, so he called on Indian start-ups to “collaborate for toys” and urged Indian companies to expand their share of the world toy market and even become a toy manufacturing Centre

The ‘special thing’ about this speech is the goal of becoming a ‘world toy centre‘. China has long been the world’s largest toy manufacturer and exporter, with over 70% of the products sold on the world toy market now made in China.

Now that India has set itself the goal of becoming the world’s toy centre, it is clear that it wants to compete with China for the toy manufacturing market. But India and China are ‘linked’ in the toy manufacturing industry,that is, India’s toy manufacturing industry is perennially dependent on China for its development.

According to statistics, China accounts for 90% of the $1.5 billion toy market in India. In addition, Indian toy production is dependent on technical support from China, and even some raw materials are obtained by importing ‘Made in China’.

In other words, India’s toy manufacturing industry is inseparable from ‘Made in China’, and the most ‘dramatic’ point is that it is dependent on China while at the same time trying to surpass it in the toy manufacturing industry.

Of course, in order to make toys the world’s number one, India is now indeed taking a series of measures. In addition to encouraging companies to vigorously build up their toy production industries, India has also restricted the entry of some Chinese goods into the market, thus protecting local companies.

So can India really achieve its goal of becoming the ‘toy centre of the world’?

Objectively speaking, it is still very difficult for India. Because India’s real strength in the manufacturing industry is here, the infrastructure is not perfect, there is no relatively complete industrial chain, and labour productivity is relatively low. In the face of these realities, it will be a long-term process for India to expand its market share in the world of toys if it only wants to rely on its own development.

The main point is that it is still difficult for the Indian toy industry to break away from its dependence on ‘Made in China’, which currently holds the majority of the world toy market. It seems that it will be very difficult for the Indian toy industry to surpass China in terms of its dependence on China.

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