India has a lot of catching up to do in terms of automation , technology , etc . A surprising fact , there are not many Indian toy manufacturers in the electronic / electric toy category . There is lot of scope for Indian manufacturers to innovate new toys equiped with automation technology . Aakash Masand of Sunny Industries ( Mumbai ) states : “ If we expect medals from our athletes at the Olympics , we should expect ourselves to compete at the Global level too . Think local , act global ”.
TAITMA ( The All India Toy Manufacturers Association ) has made presentations to the government on the current facts and the requirements of the Toy Industry , and we are hopeful that a new ‘ Toy Policy ’ will be announced for the industry . The young entrepreneur Gautam Arora feels that “ India can be the world ’ s next toy factory ”. Playcraft Traders has been exporting to many countries across the globe . “ The present government schemes like the interest subvention scheme is extremely helpful ” as per Aakash Masand .
The industry feels that the need of the hour is to have a robust ancillary units set-up to support the existing companies . This is currently missing in the country . This will help in the growth of the Toy Industry , reduce costs and have more specialized players , just like the automobile industry . Incentivising automation should be encouraged by the government so that finance liquidity crisis & technical stagnation of the MSME ’ s is avoided .
Most of the Indian manufacturers are in the MSME sector , which are family run businesses . There is either one ‘ Key Man / Woman ’ who is responsible for everything . In our presentation , we have laid stress on ‘ ease of doing business ’ even for the Indian entrepreneur and not just foreign investors . The reduced stress on the MSME will automatically increase their productivity . We have constantly said that there should be focus on the ‘ Implementation of the policy ’ & not on ‘ severe punishment .
We have seen the younger companies being funded , growing and exporting . Surprisingly , there are some who have reversed the trend and have exported to China as well . This is because they have all focused on the most important aspect :
Innovation
In my opinion , ‘ Innovation ’ will play a major role in the toy industry and the future will be bright for those who Innovate .
Lastly , it is important to educate the schools & parents on the importance of toys in the early development of a child . This becomes even more important during the lockdown as the children , who are full of energy , cannot step out . Its important to direct their energy in a positive & constructive manner .
In my opinion , Buying a Toy or a Game is not an expense , it ’ s an Investment .
Manish Kukreja President , The All India Toy Manufacturers Association ( TAITMA ) Director & CEO : Min Toy Pvt . Ltd .
Kids India Magazine - Sept 2021 | Page 7