“TEAM UP FOR TOYS” The STATESMAN PM calls upon the STARTUPS to make India the Global TOYS HUB of the world.
1. Prime Minister Narendra Modi on Sunday pitched for making India a toy hub in the world by realising the potentials of young startups.
2. In his monthly radio address, ‘Mann Ki Baat’ Modi called for increasing India’s share in the global toy market.
2.1.Though Modi made no mention of it, the toy trade dominated by China and India is a key market for Chinese toys.
2.2.He rued while the global toy industry is worth more than Rs 7 lakh crore, India currently has a very little share in it.
3. Recalling an anecdote about toys shared by Gurudev Rabindranath Tagore, Modi said one of Tagore’s friends brought a big and beautiful “foreign toy” one day that led to children’s attention moving more on flaunting the toy than the game.
4. Modis’ “team up for toys” pitch and asking the start-ups to “go vocal for local” is in sync with his other announcements to boost domestic production in areas in which India is highly dependent on China.
4.1. Currently, China is the largest manufacturer and exporter of toy products, manufacturing over 70% of the world’s total toy trade. 4.2.Modi had recently chaired a meeting aimed at boosting India’s share in the global toy trade.
5. Modi talked about his deliberations with the Children University of Gandhinagar, Ministry of Women and Child Development, Ministry of Education and Ministry of Micro-Small and Medium Enterprises on how to make new toys available to the children and how to make new toys available to the children and how India could become a big hub of toy production.
6. THE PROPOSAL MAKES SENSE
6.1. I would believe that India’s TRADITIONAL THEME BASED toys will be exciting to the children the world over.
6.2. These can be mass produced even by women SHGs, which will generate millions of additional employment for women.
6.3. No high technology is involved in making these.
6.4. India’s total exports in 2019-20 stood at $528.45, while the total imports were higher by $70 bn at $598.61.
6.5. So, even a 25% share of the $75 bn global market will bring down the adverse gap in foreign trade by about$20 bn, without any large investment.
6.6. The tech savvy Startups can make the high tech toys too.
Reference Link : https://www.deccanherald.com/national/pm-narendra-modis-team-up-for-toys-pitch-a-message-to-china-880162.html