Production is likely to start at the Toy Park which is currently under construction in the Yamuna Expressway Industrial Development Authority (YEIDA) area.
The Toy Park is being built on 100 acres of land in Sector 33 of YEIDA as part of Chief Minister Yogi Adityanath’s mission to realise Prime Minister Narendra Modi’s ‘Make in India’ goal.
With the establishment of the Toy Park, India’s toy market is poised to surge ahead, potentially surpassing China and establishing a dominant presence on the global stage.
It is noteworthy that toys made in India are exported to about 50 countries of the world. After the construction of this Toy Park, both production and export of toys from India will increase.
YEIDA Chairman Anil Kumar Sagar, on Saturday, laid the foundation stone for the construction of industrial units being set up in the Toy Park in Sector 33. A total of 142 plots of various categories have been allotted by the YEIDA for the industrial units being set up at the park. As of now, 91 units have received their checklists, and the lease deed process has been successfully completed for 39 units.
According to The Toy Association of India president Ajay Aggarwal, several factories are anticipated to complete construction and initiate production within the next year. He highlighted that over the past few years, toy imports have declined, while exports have surged, reaching nearly 60 per cent. This aligns with the prime minister’s Make in India initiative.
Ajay Aggarwal also encouraged entrepreneurs to focus on manufacturing high-quality toys at the Toy Park, emphasising the ample opportunities available in the country’s thriving toy industry.
Production of a wide range of items, such as soft toys, electronic toys, wooden toys, ride-on toys, slides, board games, plastic toys, playground equipment and more will take place at the Toy Park.
Major companies including Fun Zoo Toys India, Fun Ride Toys LLP and many others in the toy industry will set up units like soft toy manufacturing units, ride-off toy units, electronic toy manufacturing units, mechanical toys besides electronic transformers for toys and electrical toys, on the allotted plots.
The YEIDA is currently building a common facilities centre spanning five acres at the Toy Park cluster. The Toy Park will be the largest cluster for manufacturing toys in the country and will generate massive employment opportunities.
As per information, the Toy Park will be built at an estimated cost of Rs 1,100 crore, potentially creating direct and indirect employment opportunities for up to 6,000 individuals.
The YEIDA is providing all the facilities required under the Government of India’s Production Linked Incentive (PLI) scheme. Based on the demand of the Toy Association, a plan was chalked out to set up the Toy Park.
The YEIDA has successfully executed development projects in this sector like roads, sewerage systems, electrical lines, and water supply. Entrepreneurs will benefit from enhanced security and transportation facilities. Electricity, water and road connectivity will be available within the cluster. Furthermore, a flat factory will be constructed within the Toy Park cluster to accommodate ancillary industries supporting the toy sector.