It was a final call in year 2019 December where PM Modi took a strict to promote Indian Toys brands and increase the demand for such toys in local and national market. The ideology was to reduce dependence on China products which had crossed a sum total of more than 90% market share in this segment. The idea of keeping the spirit of ‘Aatma Nirbhar Bharat’ would increase the home grown starts-ups and entrepreneurs motivated to run their business and increase sales of domestic products. India’s rich culture and talent also ensures the potentials and ability to create innovative toys and games.
The demography of India which includes the kids and the teens of the country cover the main area of demand for more than 90% of population in its segment. In current scenario, the increase in demand for more sophisticated modern toys from international market has decreased the demand for Indian brands. The Indian government has taken serious step to promote made in India toys after witnessing the depence on China market.
The revolution which gave a kick start to imports has resulted in replacing local products with international ones. We witness this in various toys segments such as Terracotta dolls of southern India were replaced by the Sparkly Barbie Dolls and ‘Chaupar’ the board game is now played on mobile phones – The Ludo King. Remember playing hours with your yo-yo’s? They are the American copy of the Indian Spinning tops or ‘Lattoos.’This how the invention of new technology by foreign brands change the face of Indian-toy-manufacturers at large scale.
Being an Indian, we should promote products which are manufactured in India by different business gaints (such as fuzzbuzz,lttletikes,winfun etc)and support brand which would increase value for our home grown industry. This would be a turning point for the Indian toy market to improve its business in this segment. Hence, an attempt by our honourable PM would also initiate various incentives in this segment in its future growth plan.