The industrial town in Gautam Budh Nagar district of Uttar Pradesh is set to become a major manufacturing hub of toys in India as 134 big industrialists have acquired land at Noida's Toy Park to set up factories involving an investment of ₹410.13 crore. According to Yamuna Expressway Industrial Development Authority (YEIDA) officials, the toy factories will provide permanent jobs to 6,157 people. Under the direction of the Prime Minister, UP Government has decided to construct a Toy Park in Noida and 100 acres of land was earmarked in Sector 33 of Yamuna Expressway Industrial Development Authority area to promote the industry. Those who have acquired land at the Toy Park are Fun Zoo Toys India, Fun Ride Toys LLP, Super Shoes, Ayush Toy Marketing, Sunlord Apparels, Bharat Plastics, Jai Shree Krishna, Ganpati Creations and RRS Traders. According to YEIDA officials, the acquisition of land by major players in the toy industry, such as Fun Zoo Toys India and Fun Ride Toys, is significant as they can challenge the monopoly of Chinese toy makers. The biggest challenge before the government is that of the 4,000 micro, small and medium enterprises in the toy manufacturing business 90 per cent are in the unorganized sector. As per estimates, India's toy industry will be worth ₹147 billion-221 billion by 2024, given the fact that the demand for toys in India is rising at a faster pace compared to the global rate. Against the global average of the demand for toys increasing annually by five per cent, India's demand is rising by 10-15 per cent.
📅Published on:
11 August 2021
🔗Share:
We Value Your Comment
⭐How useful is this information?
Submitting...
03
Thanks for your rating! ✌️ We’d love to hear more - share your thoughts by leaving a comment
The Ministry of Tourism has sanctioned 117 tourism infrastructure projects worth Rs 5,756.62 crore across the country over the last two financial years, with
India's Urban Challenge Fund has approved projects worth Rs. 31,000 crore within 20-25 days of the finalisation of its operational guidelines, according to
The Centre has reiterated that the management of urban flooding, including the cleaning and desilting of drains, is primarily the responsibility of state
Prime Minister Narendra Modi laid the foundation stone and dedicated development projects worth around ₹14,700 crore in Haryana, covering railways, highways
Prime Minister Narendra Modi laid the foundation stone and dedicated multiple development projects worth over ₹4,700 crore in Chandigarh, covering healthcare
Defence Minister Rajnath Singh has said that strategic infrastructure such as roads, tunnels, airfields and ports will remain indispensable for national
The Centre has allocated Rs. 1,000 crore for the construction of 2,400 km of rural roads in West Bengal and approved the construction of one lakh houses under
NBM Media
30+ years of reporting on infrastructure, construction, architecture, & real estate across print, digital, and social media.
