Why Indian Government Encourage Toy Making Business?
The answer to the question is in 2020 the revenue in toys and games was $38.1 billion and pretended to 9.6 percent CAGR till 2023. Currently, China is at the top with $62.8 billion.
Indian government motivates and urge the Indian startups for the toy sector to maximize manufacturing and increase the reach of Indian made toys to the world. After holding a meeting with senior officials and ministers, the Prime Minister make a statement and urge the start-ups and young blood to innovate in the toy sector. Also, PM has given the suggestion to the educational institutions to arrange competitions in toy technology and design.
Consumer affairs minister Shri Ram Vilas Paswan announced. That the toys imported in India should comply with the quality norms from September 1. Also, the officers of the Bureau of Indian Standards (BIS) will be at all major ports to collect samples and check the quality of imported toys.
Our Prime Minister added in his statement that India has many toy manufacturers and artists who can design and make toys for children to teach them life-skills and motor skills. For the success of the Atmanirbhar Bharat and Vocal for Local campaign. The group of toy manufacturers should introduce innovative methods for manufacturing toys.
To increase the domestic manufacturing of toys. The government has to increase the import duty to 200 percent in February this year. The increased import duty increases the domestic production of toys.
Now if you want to start the toy-making business but don’t know about it. There are different types of toys and made with various methods. Make sure that the raw material used in toys making should be according to rules and safe for the children.
Toys are made with manufacturing processes like blow molding, injection molding, etc. Also, toys manufacturers introduce automation in the manufacturing process to make the toys quickly. With the proper infrastructure and workers, you can manufacture the best quality toys.
For the best quality toys, the machine plays an important role. Buy a machine from well-known machine manufacturers so you will get the best after sell service.