In India Toy market is about 170 Corer but in world it is about 9000 Corer and We imports toys worth’s for 120 corer mostly from china so cluster is very important to raise the domestic manufacturing capacity.
Why only India is the best Choice for toy industry ?
Raw Material Availability
World’s second largest producer of polyester and related fibers with 8% global share for plush toys
Indian players have the technical know-how in precision tooling and are rapidly working towards growing capabilities to compensate for the shortage in readymade molds and structures. Tooling is critical for sub-segments like electronic and remote control toys, video games, etc.
Labour cost comprise almost 20 – 40% of the total cost for toys and thus are an essential input for this industry
Labor costs in India are cheapest amongst the other competing geographies
Rate of growth of wages is significantly lower and rate of growth of productivity is relatively higher compared to other low cost countries like China, Vietnam and Thailand