Prime Minister Narendra Modi for increasing India’s share in global toy biz
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Tribune News Service
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New Delhi, June 24
Prime Minister Narendra Modi today made a push for increasing India’s share in the about 100 billion dollar global toy market with a focus on product innovation.
He added that the designs of the available toys and gaming modules were against the Indian ethos and values as they foster violence and distress.
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In his virtual address to the country’s first “Toycathon-21”, Modi noted that India’s share in the global market was a meagre 1.5 billion dollar which needed to be improved.
“India meets 80 per cent of its domestic demand for toys through import which is a drain on its foreign exchange reserves, he added.
The PM pitched for improving the country’s standing in what he called “Toyconomy” or the economic aspects of the toy and gaming industry.
The “Toycathon” was an effort aimed at making India a hub for ideation and production of toys.
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