India’s first toy manufacturing cluster in Karnataka
India’s first toy manufacturing cluster in Karnataka wants to create over 1 lakh jobs
Karnataka Chief Minister BS Yediyurappa laid the foundation stone for the country’s first ‘toy manufacturing cluster’ on Saturday in Koppal district’s Bhanapur village, where 400 acres of land worth $545 million has been set aside for the establishment of plug-and-play manufacturing facilities. Aequs SEZ Pvt Ltd is promoting the manufacturing campus in collaboration with the Karnataka government.
According to Chief Minister B.S. Yediyurappa, the toy manufacturing cluster would include over 100 units, with the potential to create 25,000 to 30,000 direct employment and over 1 lakh indirect jobs. “Today’s toy cluster groundbreaking event is a source of pride for us as we embark on a new path to strengthen India’s indigenous toy manufacturing capacity and capabilities to serve not just the domestic market, but also the $80 billion worldwide market for toys,” says the statement. According to Aravind Melligeri, Chairman of Aequs Group, India’s toy industry is worth $1 billion every year, yet approximately 60% of it is met by imports.
GOVERNMENT APPROVES EIGHT TOY MANUFACTURING CLUSTER
To promote India’s traditional toys industry, the government has sanctioned eight toy production clusters at a cost of Rs 2,300 crore.
Toys made of wood, lac, palm leaves, bamboo, and fabric will be produced in these clusters.
Under existing initiatives such as the Scheme of Fund for Regeneration of Traditional Industries, the Department of Promotion of Industry and Internal Trade (DPIIT) and the Ministry of Micro, Small and Medium Enterprises (MSME) are trying to build toy clusters.”At a recent meeting, the government approved eight new toy clusters,” a senior official from the MSME ministry stated.
Three clusters in Madhya Pradesh, two in Rajasthan, and one each in Karnataka, Uttar Pradesh, and Tamil Nadu have been approved by the government.
Under the Sfurti scheme, which offers incentives such as skill development, capacity building, the creation of facilities such as common facility centres, rehousing facilities, and marketing and e-commerce assistance to local industries, two toy clusters are currently being implemented in Karnataka and Andhra Pradesh.
According to another official, the project will include 35 toy clusters.
“The administration is working hard to build clusters as quickly as possible.” Approvals are currently taking roughly six months to arrive, and it will take another six months for them to be processed.The news comes ahead of the inaugural virtual India Toy Fair-2021, which will take place from February 27 to March 2 and will include over 1,000 exhibitors from across the country.
0 Response to "TOY CLUSTER- INDIA'S FIRST TOY MANUFACTURING CLUSTER KARNATAKA"
Post a Comment