According to industry analysts, expanding the PLI system to the toy business and establishing a separate export promotion council will help the industry grow by boosting exports and employment. The Production Linked Incentive (PLI) plan, which currently targets 14 industries including pharmaceuticals and white goods, attempts to increase local production and exports.
The CEO of Little Genius Toys Pvt Ltd, Naresh Kumar Gautam, stated that although the government’s assistance measures are aiding the business, the PLI plan and a council will provide further momentum because they have great potential for employment growth. “The toy business is in the midst of its golden age right now. The assistance measures are assisting more significantly. However, I would like to suggest that the government create a special export promotion council and include the toy industry in the PLI plan to give us more momentum “Added Gautam. To guide future growth, he continued, the government should also think about developing a national toy strategy.
Tarun Chetwani, the founder of Natkhat Toys, had similar opinions when he claimed that a dedicated council for export promotion will assist the industry to receive a targeted approach from the government. Currently, the sector is divided into two categories: handicrafts and sports items. “There is tremendous export potential. The industry has drastically cut imports from nations like China and is now concentrating on production “said Chetwani. Exports, according to Manu Gupta, the CEO of Playgro Toys India. In the past, Sandeep Moona, Director of Hilife Marektech Pvt Ltd, claimed he exclusively imported high-end toys from nations like Germany but has now begun buying toys produced in India. He said that supplying local players with cutting-edge technology and facilities will help the industry advance. “We are completely capable of meeting global demand. We can compete with multinational companies, “Moona said.
