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The history and culture of India are deeply rooted in toys. The worldwide toy industry has gone a long way, even yet the desire to play is as strong as ever. The nature and methods of play are quickly changing to keep up with advancements in technology and consumer needs.
Except for items that require decorations and similar value additions, where productivity levels are much lower than China, toy categories like dolls, soft toys, baby & infant, and pre-school are very labour-intensive with strong potential for manufacturing capabilities in India.
The India baby toy market accounted for $XX Billion in 2021 and is anticipated to reach $XX Billion by 2030, registering a CAGR of XX% from 2022 to 2030.
The Indian toy sector has the potential to double in size. The paper provides a thorough assessment of the Indian toy market with an emphasis on the supply- and demand-side reforms required to turn India into a major producer of toys.
The development of digital and technology in toys is resulting in an increase in the use of artificial intelligence, particularly in STEM toys
.India has a limited capacity for producing battery-operated, electronic, and technology-based toys, although this capacity can be expanded in the medium to long term.
The labor-intensive sub-segments that account for 50–60% of the toys market can be scaled up right away in India, providing these segments a push toward indigenization, which might, in turn, greatly accelerate the creation of jobs.
While states all over the nation are leading initiatives to support toy manufacturing ecosystems and create and market new toy clusters, signaling a significant change in domestic toy manufacturing, the desired model for India is to incentivize both domestic and international players to build end-to-end, integrated manufacturing facilities.
