Toycathon-2021: PM Narendra Modi interacts with participants, Calls for better standing in ‘Toyoconomy’

GG News Bureau
New Delhi , 24 th June .The Prime Minister Narendra Modi interacted with participants of Toycathon-2021 today via video conferencing and underlined the importance of toy sector in taking development and growth to the neediest segments. He called for the need to be vocal for local toys.PM Modi said that the world wants to learn about India’s capabilities, art and culture and society, toys can play a big role in it. He said that India has ample content and competence for digital gaming.
The Prime Minister addressing the particpants virtually said that in the last 5-6 years, youth of the nation has been connected with the key challenges of the country through the platform of Hackathons. Thinking behind this is to organize the capabilities of the country and to give them a medium, he said.
Apart from the importance of toys as the first friend of the children, the Prime Minister also emphasized the economic aspects of toys and gaming, he called it ‘Toyconomy’. The Prime Minister said that global toy market is about 100 billion dollars and India has only 1.5 per cent share of this market. India imports almost 80 per cent of its toys. This means that crores of rupees are being drained out of the country. This needs to change, said the Prime Minister. He underlined that, beyond numbers, this sector has the capacity to bring progress and growth to the neediest segments of society. Toy industry has its small-scale industry, artisans comprising of rural population, dalits, poor people and tribal population.
The Prime Minister singled out the contribution of women in the sector. To reap the benefits to these segments, we need be vocal for local toys.
The PM called for new models of innovation and financing to make Indian toys competitive at the global level. There is a need for new ideas to be incubated, new start-ups promoted, taking new technology to traditional toy makers, and creating new market demand. This is the inspiration behind events like Toyacathon, the Prime Minister said. Union Ministers Piyush Goyal and Sanjay Dhotre were present on the occasion.

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