GG News Bureau
Nuremberg, Germany, 6th Feb. Indian toy manufacturers have achieved a significant milestone at the renowned Nuremberg International Toy Fair, held from January 30 to February 3, 2024, securing substantial orders exceeding $10 million USD. Exporters attribute this success to the display of high-quality products that garnered widespread acclaim at the event.
The Indian toy industry attributes its success to government initiatives such as mandatory quality norms, increased custom duty, and the implementation of a National Action Plan on Toys (NAPT). These initiatives have facilitated the production of top-notch products, positioning India as a formidable competitor in the global toy market.
Wooden toys and educational learning toys emerged as the most sought-after categories at the fair, drawing keen interest from buyers representing countries including the US, UK, South Africa, and Germany. With over 55 participants from India, the country showcased its diverse range of innovative toys to a global audience.
Indian manufacturers observed a notable shift in buyers’ perceptions, with India increasingly recognized as an attractive sourcing destination. This recognition is bolstered by Prime Minister Shri Narendra Modi’s advocacy for the toy economy, which has propelled India onto the global stage.
Moreover, the fair provided a platform for Indian toy makers to explore international joint ventures, further enhancing the global acceptance of India’s manufacturing ecosystem. The growing interest from global players in partnering with Indian manufacturers has spurred efforts to expand manufacturing capacity to meet both international and domestic demand.
The rising international acclaim for ‘Made in India’ toys is poised to drive export growth, as evidenced by a substantial decrease in toy imports and a significant increase in exports over the past decade. Furthermore, plans for collaborations with renowned international players such as Snapdeal and Walmart are underway, indicating promising prospects for the Indian toy industry.
The conclusion of the Nuremberg International Toy Fair marks a significant milestone for Indian toy makers, reflecting the industry’s resilience, innovation, and global competitiveness. With continued support from the government and concerted efforts from industry stakeholders, the Indian toy sector is poised for further success in the global market.
The event featured over 2,000 exhibitors from more than 65 countries, cementing its status as one of the world’s largest toy fairs.
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