TOY MAKERS
International toy fair to begin on July 6; over 100 foreign buyers to participate
Wooden toy maker Gautam said that different categories of toys will be showcased to buyers such as electronics, soft toys, playground equipment and board games. The country's toy exports declined marginally to USD 152.34 million in 2023-24 from USD 153.89 million in the previous financial year, according to a report by economic think tank GTRI.
Govt steps help boost toy exports, manufacturing; more work needed: DPIIT Secretary
In the interim Budget in February, the Commerce and Industry Ministry has recommended an outlay of Rs 3,489 crore for the Production Linked Incentive (PLI) scheme for toys to boost domestic manufacturing of the sector.
DPIIT officials, Flipkart, toy makers to meet on Wednesday on ways to increase sourcing
Senior officials from the Commerce and Industry Ministry, Walmart group firm Flipkart, and domestic toy makers will discuss ways to enhance India's position in the global toy supply chain and increase sourcing on the e-commerce platform.
From stuffed toys to sports cars, sales break gender rules
Gender norms are blurring in purchasing decisions, particularly in urban India, with more men and women adopting newer hats in their social and professional lives. Consumer goods companies are adapting their marketing strategies to address this change. Women are increasingly buying 'toys for boys', such as drones and remote-control cars, accounting for 25-30% of Hamleys' sales.
A dozen consumer companies line up IPOs amid a thriving stock market
India's primary market anticipates a dozen consumer-facing companies to launch IPOs this year to capitalize on market potential. Companies like Coca-Cola's bottling partner HCCB, CG Foods, Allied Blenders & Distillers, Urban Tots, Cremica Food, Patel's R Mart, PNG Jewellers, Baazar Style Retail, Unicommerce eSolutions, One Mobikwik Systems, and Swiggy are among those planning IPOs.
Has India’s toy story started to falter?
After hitting a high of $177 million in the financial year 2022, India’s toy exports are seeing a fall. To add to the pain, imports are also rising.
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Fast-fashion giant Shein wants to sell skincare, toothpaste and toys, too
Known for cheap own-brand clothing and accessories, Shein is moving into other categories and has given brands and retailers access to its platform in nine European countries so far, having done so in the United States, Brazil, and Mexico last year.
ASML Q1 bookings miss forecast, but China sales hold up
ASML faces lower Q1 bookings but stable China sales despite U.S. restrictions. Anticipates 2025 growth due to demand from TSMC, Nvidia, Apple, and new chip plants. Shares dropped to 873.40 euros.
Many lives of Sudha Murty: Engineer to home maker to writer to philanthropist
Sudha Murty, the first woman in India to study mechanical engineering, has been nominated to Rajya Sabha. She co-founded Infosys with her husband Narayan Murthy. Sudha has become a popular icon known for her honest and inspiring views on life. She is also a prolific writer and philanthropist. When Sunak became the PM of the UK, Murty claimed in a video circulating online, "I made my husband a businessman. My daughter made her husband prime minister of the UK."
Disney to invest $1.5 billion in 'Fortnite' maker Epic Games to create games, entertainment
Walt Disney CEO Bob Iger revealed the plans after Disney's board of directors authorized a $3 billion share repurchase program for the current fiscal year, and declared a dividend of 45 cents a share, a 50% increase from the dividend paid in January.
Domestic toy makers’ tie ups with Snapdeal, Walmart in pipeline: Govt
The Indian government announced plans for tie-ups with international toy giants like Snapdeal and Walmart. The announcement comes amid Indian toy makers receiving orders over $10 million at a five-day international toy fair in Germany. The Indian toy sector is growing at a healthy rate and competing with global players.
Indian board game renaissance: How entrepreneurs are making moves in the world of tabletop entertainment
A renaissance in India's board game and jigsaw puzzle landscape is underway, led by homegrown entrepreneurs and designers, who are creating games and designs that are more familiar and relatable. It's early days for a niche industry but the global surge of interest is helping, attracting more people to the hobby though challenges of discovery and distribution remain.
Toy manufacturers' shift from China is no child's play as India, others struggle to match up
Toy manufacturers struggle to shift production from China due to surging costs. Hasbro approached Indian supplier Aequs to sub-contract toy manufacturing. Aequs now produces toys for Hasbro and others in India. However, India cannot match China's efficiency. Chinese ports' export struggles during the pandemic highlighted the risk of relying on China. Soaring labour costs in China have been driving manufacturers to diversify production geographically.
Toys to account for significant portion in Walmart's $10 bn exports target from India: Offiical
In December 2020, Walmart committed to triple its exports of goods from India to $10 billion each year by 2027, providing a significant boost to micro, small and medium-sized enterprises (MSMEs) here.
Google's billion-dollar payouts got in the way of a deal with Apple: DuckDuckGo CEO
A transcript from the trails showed DuckDuckGo had struck a deal with Apple in 2014 to be shown as an option on Apple devices, but the deal eventually did not materialise in 2019.
Stormtrooper costume from 'Star Wars', 'Batman' props & other creations of Hollywood model maker Greg Jein up for auction
The collection of Hollywood model maker Greg Jein, who died last year, will be auctioned off by Heritage Auctions next month. Jein, who had a career spanning nearly half a century, created models for films such as "Close Encounters of the Third Kind" and "Star Wars."
Govt, global retailers, domestic toy makers to discuss ways to promote toy exports from India
This event brings together key industry stakeholders, renowned international companies, and leading Indian manufacturers to explore the immense potential of India as a sourcing destination for the global toy industry.
India is winning PM Modi's toy war on China. Will this trend continue?
India's toy industry has the potential to showcase Prime Minister Narendra Modi's project of creating a self-reliant India that manufactures for itself and the world. The government is supporting the industry with measures such as the Production-Linked Incentive scheme and the Quality Control Order. The toy industry is also benefiting from the shift away from Chinese imports due to the pandemic, allowing Indian manufacturing to gain an edge.
The road to Modi’s ambitious make-in-India goal runs through China
It’s a Catch-22 that ensnares companies in India making everything from a baby’s first toy to mobile phones: the more they try to ramp up production in competition with China, the more dependent they become on their northern neighbor for components and raw materials.
Walmart looking at sourcing toys, shoes, bicycles from India
In 2020, the government issued a Toys (Quality Control) Order. As per the order, toys have to conform to the requirements of relevant Indian standards and bear the standard mark under a licence. It is applicable to both domestic as well as foreign manufacturers who intend to export their toys to India. The QCO has been issued to ensure that consumers, who are children only below the age of 14 years, are not exposed to sub-standard goods/ goods containing toxic material/toys containing toxic material.
Amazon begins selling toys, clothing through mobile games
The e-retailer announced a business-to-business program called Amazon Anywhere allowing video game makers to sell goods directly through their respective platforms.
Top global firms approaching Indian toy makers for sourcing goods: Official
Top global retailers from the US and Europe have expressed interest in sourcing Indian toys and helping Indian toy manufacturers meet compliance requirements. The Department for Promotion of Industry and Internal Trade (DPIIT), which is promoting domestic manufacturing of toys, is working to connect Indian manufacturers with global players to increase exports.
Govt not yet issued quality certificate to 160 Chinese cos for selling toys in India
Consumer Affairs Secretary Rohit Kumar Singh said the government plans to bring more products under the mandatory quality control order (QCOs) to make India a quality-conscious nation. The government has identified several products to bring under the QCO. The consultation process is underway to bring more chemicals and textile products under the QCO in the immediate future, he said.
A bike ride, a toy maker and a Made in India solution to help cancer patients get their voice back
Aum Voice Prosthesis has not only brought down the medical bills for throat cancer survivors, it has also saved them from multiple visits to the operation theatre.
Indian toy manufacturers scale up amid rise in demand; eyes global markets
Now the 'made-in-India' toys have a very clear edge in the domestic markets and the manufacturers are scaling up their production capacity to meet the growing local as well as international demand. The import of toys into India has declined sharply from USD 304 million in 2018-19 to USD 36 million in 2021-22, said a data from the Ministry of Commerce & Industry.
Toy industry needs to think big to boost manufacturing, exports: Commerce Ministry
"Their revenues have grown, but to become a unicorn (companies having valuation of over USD 1 billion), the industry has to reach to another level. They need to bring professionalism in their management besides capacity building," Agarwal told reporters in the Toy Fair at Pragati Maidan.
Hollywood film-maker JJ Abrams to produce live-action adaptation of the iconic toy 'Hot Wheels'
The film will feature the toy brand's sleekest cars, trucks and motorcycles.
Need to ensure manufacturing of quality toys that meet global standards: PHDCCI
India should come out with more quality control orders and technical regulations for different products to check inferior and low-quality imports from China, industry chamber PHDCCI President Sanjay Aggarwal said in a statement.
China's third-child policy boosts shares in toy, diaper makers
Shares in toy maker Goldlok Holdings (Guangdong) Co jumped to their 10 per cent daily limit for the second day, as did shares in Jinfa Labi Maternity & Baby Articles Co.
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