NEW DELHI: The eagerly awaited 15th Toy Biz International B2B Expo 2024 is all set to commence on July 6 in New Delhi, featuring participation from more than 300 domestic companies and over 100 international buyers from key markets such as the US, Germany, and others. Hosted at Pragati Maidan, this four-day event promises to be the largest toy fair in South Asia.
Naresh Kumar Gautam, Senior Vice-President of the Toy Association of India, highlighted the fair's significance, stating, "It serves as a major platform for Indian toy manufacturers to showcase their products globally. It facilitates new partnerships, expands market reach, and boosts exports."
Gautam, who also heads Noida-based Little Genius Toys Pvt Ltd, emphasized the need for government support to enhance these events. "We propose a minimum support of Rs 1 lakh per stall. Currently, we cover hotel accommodation and up to Rs 1 lakh in travel costs for international buyers," he added.
The expo will feature a diverse array of toys including electronic gadgets, plush toys, playground equipment, and board games. Despite challenges, India's toy exports reached USD 152.34 million in the last fiscal year, down marginally from USD 153.89 million, according to GTRI.
India has taken proactive steps since 2020 to regulate substandard toy imports, particularly from China, while bolstering its domestic toy industry. The strategy includes fostering local manufacturing, modernizing traditional toys, and setting up specialized manufacturing hubs to boost efficiency and reduce costs.
India Executes First Rs 1 Cr Pulses Export to Myanmar under Rupee-Kyat Trade Mechanism
Government's new initiative for farmers producing tur, urad and lentils, launched this special app
India's Path to Achieving USD5 Billion Defence Export Goal: Study