(MENAFN- KNN India) New Delhi, Jul 11 (KNN) The Indian government reaffirmed its commitment to bolstering the domestic toy industry during the '2nd Edition of Toy CEO Meet' held in New Delhi.

The event, organised by the Toy Association of India in collaboration with the Department for Promotion of Industry and Internal Trade (DPIIT) and Invest India, aimed to position India as a global toy manufacturing hub.

Union Minister of State for Commerce and Industry and Electronics & Information Technology, Jitin Prasada, delivered the keynote address, emphasising support for Indian artisans and the creation of toys that educate and inspire children worldwide.

Prasada highlighted Prime Minister Narendra Modi's vision of inclusive development and urged continued collaboration within the industry.

The meet attracted prominent global players such as Walmart, Amazon, Spin Master, and IMC Toys, alongside domestic manufacturers like Sunlord Apparels Manufacturing Company Pvt. Ltd. and Playgro Toys India Pvt. Ltd.

DPIIT Secretary Rajesh Kumar Singh noted the significant growth in the Indian toy industry, attributing it to government initiatives and efforts by domestic manufacturers.

This growth, he said, reflects India's increasing self-reliance and enhanced manufacturing capabilities in the sector.

Invest India CEO & MD Nivruti Rai pointed out India's substantial market potential for toy investments, citing the country's growing young population and expanding demand for toys.

Global companies expressed enthusiasm for expanding operations in India during stakeholder discussions. The event, part of the 15th India Toy Biz International B2B Expo, provided a platform for networking and exploring growth opportunities in the Indian toy market.

The government's focus on promoting the domestic toy industry aligns with its broader economic strategy to boost manufacturing and reduce imports.

As India continues to position itself as a key player in the global toy market, events like the Toy CEO Meet play a crucial role in fostering industry connections and driving growth in this sector.

(KNN Bureau)

MENAFN11072024000155011030ID1108430764