Government approves Rs 23,000 crore worth of toy clusters

picture credits- the hindu

It is worthy of admiration that the Indian authorities have been taking prominent and fundamental steps towards an ‘Atmanirbhar Bharat’. Recently, in a big move to push for domestic contribution for domestic manufacturing of toys, the Government gave its approval for the building of eight toy manufacturing clusters worth Rs 2,300 crore.

MSME official stated, “the government has approved eight new toy clusters under the existing schemes of the government.”

Under Scheme of Fund for Regeneration of Traditional Industries (Sfurti) , the Government is looking to establish the eight toy clusters under the existing set of schemes. Once achieved, these will boost the manufacturing of toys made of wood, lac, palm leaves, bamboo and fabric. States where the clusters have been approved include Madhya Pradesh, Rajasthan, Tamil nadu, Karnataka and Uttar Pradesh.

Meanwhile, it is worthy to be noted that in addition to these, two toy clusters are already under implementation in Karnataka and Andhra Pradesh under the aforementioned Sfurti scheme. Overall, the Government plan of action works towards establishing a total of 35 toy clusters across the nation

The government initiated Sfurti scheme offers incentives such as  capacity building, skill development, creation of facilities such as common facility centers, rehousing facilities and marketing and e-commerce assistance to local industries. This rightly provides an incentive for investment in the woeful india’s toy industry as a major chunk of production in India includes imports.

It had been reported that $1.5 billion worth of toys were imported in 2020. To add to the woeful tale of the indigenous toy industry of India, 90% of the imports come from china and Taiwan.

Thus it will be safe to state that the government presently also takes measure to cripple china’s highly despicable imports to India. To add to this it has also been reported by the Quality Council of India that 67% of imported toys fail a testing survey, prompting an aggressive effort to produce the toys safely in India.

It is also worthy of notice that the Government’s approval for the eight new toy manufacturing clusters has come ahead of the India Toy fair-2021 which is to be held from 27 February to 2 March.

Thus the Indian government on this front should be applauded for its cautious efforts to ramp up production in the economy not only to boost the economy but also to ascend on the road of a self-reliant India.