Advertisement

Updated February 4th, 2024 at 15:48 IST

Indian toy manufacturers secure multi-crore orders at German toy fair

Exporters reveal that Indian toy makers showcased high-quality products that garnered interest from buyers in countries like the US, UK, and South Africa.

Business Desk
Indian toys
Indian toys | Image:Indbiz.gov.in
Advertisement

Nuremberg Toy Fair: Indian toy manufacturers secured significant orders worth crores at the Nuremberg International Toy Fair in Germany. The five-day event, which concluded on February 3, witnessed the participation of over 2,000 exhibitors from 65 countries, making it one of the largest toy fairs globally.

Exporters reveal that Indian toy makers showcased high-quality products that garnered immense interest from buyers in countries like the US, UK, South Africa, and Germany. The positive response resulted in substantial orders for Indian toys.

Advertisement

Naresh Kumar Gautam, CEO of Greater Noida-based Little Genius Toys Pvt Ltd, expressed delight at the overwhelming appreciation their products received. Notably, there was a notable shift away from Chinese toys, with buyers expressing a preference for Indian alternatives. Gautam mentioned that two Chinese firms have expressed interest in establishing joint ventures with Little Genius in India for toy manufacturing, catering to both domestic and international markets.

To meet the increased demand, Gautam stated that the company plans to expand its manufacturing capabilities. He credited government measures such as mandatory quality norms and customs duty reductions for fostering sector growth.

Advertisement

Tarun Chetwani, promoter of Natkhat Toys, echoed similar sentiments, underlining the healthy growth of the Indian toy sector. The fair served as a platform for showcasing high-quality Indian products, with several companies from Greater Noida participating.

India's toy exports have witnessed significant growth, reaching $325.72 million in 2022-23, compared to $96.17 million in 2014-15. Government support in creating a conducive manufacturing ecosystem for the toy industry has played a pivotal role in this success. The industry has experienced a remarkable 52 per cent decrease in overall toy imports from $332.55 million in 2014-15 to $158.7 million in 2022-23, accompanied by a noteworthy 239 per cent increase in exports during the same period.

Advertisement

(With PTI inputs)

Advertisement

Published February 4th, 2024 at 15:48 IST

Your Voice. Now Direct.

Send us your views, we’ll publish them. This section is moderated.

Advertisement
Advertisement
Advertisement
Advertisement
Advertisement
Whatsapp logo