Making Headway : Toy Manufacturing Sector In India
India Sept 2021Making Headway :Toy ManufacturingSector in India
Making Headway : Toy Manufacturing Sector in IndiaMaking Headway : Toy Manufacturing Sector in IndiaPrefaceContents21.Preface032.Global Toy Manufacturing Sector043.Indian Toy Manufacturing Sector064.Export & Import Statistics of India085.Enabling Infrastructure for Toy manufacturing126.Major Toy Manufacturers in India147.Government Initiatives & Support158.India Advantage219.Key Challenges2210.Vocal for Local2411.Views from Aequs Infra3312.The Way Forward-Savills Viewpoints34savills.in aequsinfra.comIndia was self-sufficient in toymanufacturing till 1980. Only around10% of the toys until were importedfrom countries such as USA, UK,Germany, France, Italy and Japan.Indian toys were manufactured usingmaterials like wood, polymer, cloth,fiber, wood pulp, rubber and metal.Opening of economy in 1990sresulted in entry of toys manufacturedoutside India, mainly from China,Hong Kong, Taiwan, Netherlands andSri Lanka. In 2020-21. 71.1% of India’stoy imports was met by China,followed by Netherland, Hong Kongand Taiwan.The government of India is urgingstartups and entrepreneurs todevelop “toys and games, for Indiaand of India” to meet the growingdomestic demand, to minimizeimports and to increase India’s sharein global toy exports.3The government is making efforts toboost the toy industry, like raisingimport duties, issuing Bureau ofIndian Standards (BIS) for import oftoys and financial incentives &subsidies for domestic toymanufacturers. Many Stategovernments have already startedinviting global toy manufacturers toset up manufacturing units in theirrespective states.This report aims to help toymanufacturers, investors and realestate developers to gauge thegrowth potential of toy manufacturingsector in India. It will also helpstakeholders associated with theindustry to take informed decisionson investments in this emergingsector.savills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaMaking Headway : Toy Manufacturing Sector in IndiaGlobal Toy ManufacturingSectorThe Global toys market size wasvalued at USD 92.2 bn in 2019, andis expected to reach USD 103.8 bnby 2027, registering a CAGR of 2.5%from 2021 to 2027 according toAllied Market Research1. In 2019, thesports and outdoor toys segmentled in terms of market share and isexpected to retain its dominancegoing forward.World toys exports (HS-9503)accounted for USD 53.4 bn in 2019,according to data released by theWorld Bank. China is the majorexporter of toys with USD 31.3 bn ofexports accounting for 58.7% in theglobal market. Other majorexporters of toys include CzechRepublic, Hong Kong, Germany,and European Union.Toys (HS-9503) Exports by Country in 2019CountryChinaCzechRepublicHong tesVietnamUnitedKingdomIndiaOthersValue(USD rce World Bank, ease/toys-market.html4savills.in aequsinfra.com5savills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaMaking Headway : Toy Manufacturing Sector in IndiaProduct SegmentationAction FiguresIndian Toy Manufacturing Sector1Present ScenarioArts & Crafts2Playsets withaccessories androle play (non-costume)Chalk, crayons, markerspaints and pencilsBattling ToysIndian toy manufacturing sector iswitnessing robust growth. Thedomestic toys market wasestimated at USD 1.23 bn in 2020.The market is expected to grow at aCAGR of 12.2% between 2021 and2026 according to the marketresearch company IMARC2. Atpresent, the market is fragmentedwith over 4,000 toy manufacturingunits located in states such asKarnataka, Tamil Nadu, Maharashtraand Uttar Pradesh. The organisedsector accounts for only 10%.Specialty stores represent thelargest distribution channel for toysin India followed by supermarketsand hypermarkets, online andothers.young population, rising disposableincome, changing spendingpatterns and shift from traditionaltoys to innovative intelligentelectronic toys. Educational toysare believed to improve creativityand contribute in the developmentof the brain of the child.The growing demand for toys inIndia is driven by large base of3Building & Construction4Playsets andaccessoriesBuilding sets andaccessoriesCollectible Trading Cards & Toys5Costume & Dress-Up6Collectible trading cardsand collectible tradingtoys & accessoriesCostume and dress-upaccessoriesOverview of Indian Toy Manufacturing:Registered Factory Sector (NIC 2008-Code 324) as of 2017-18Fixed Capital(USD million)37.8Invested Capital(USD million)60.4Number ofFactoriesValue of the Output(USD million)115106.3DollsTotal PersonsEngaged6,73779Note1. As per NIC 2008 classification, manufacture of Games & Toyshas been put under a separate code ‘324’2. USD to INR Conversion @ 68.408 for 2017-188Electronic learningsystems, infantelectronic learning,pre-school electroniclearning and maps,globes, etc.savills.in aequsinfra.comInfant Toys10Brainteasers, basiccards and electronichandheld / tabletopgamesMajor arket6Display dolls,dollhouses, fashion &styling dolls, play sets,mini figurines &playsets, nurturingdolls and accessoriesGames & PuzzlesGames & Toys (NIC, 324)Source Ministry of Statistics & Programme Implementation,Government of IndiaEducational7Bath, electroniclearning, jumpers &walkers & play gyms,mats, nest and otherinfant toys Sub-Categoriessavills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaMaking Headway : Toy Manufacturing Sector in IndiaToy Exports and Imports-India(includes toys, games & sports requisites, parts and accessories)Export & Import Statistics of IndiaImportsReduced Import 12019-202020-21USD mnUSD mnToy Imports to India4.1Toys are mainly categorised as9503 and 9504 groups under the‘Harmonized System Nomenclature’developed by World CustomsOrganization for trade purposes.At present, more than half of thedomestic toys demand in India ismet by imports which includes toys,games & sports requisites, partsand accessories. The countryrecorded import of USD 562.2 mnworth of toys in 2019-20. It is(includes toys, games & sports requisites, parts andaccessories)-2020-21SRI LANKA3.9OTHERSPOLAND29.8ITALYreduced by 27.5% from 2019-2020levels to USD 407.3 mn in 2020-21.The fall in imports in 2020-2021 wasattributed to the impact 13.8CHINA289.7Imports in2020-2021HONG KONGGERMANY24.8HS-9503HS-9504HS-95042019-20(USD mn)2020-21(USD mn)2019-20(USD mn)2020-21(USD mn)279.2129.638.14.4%NETHERLAND4.0%Source Ministry of Commerce, Government of IndiaExportImportProduct CategoryNote8HS-9503 categoriesTricycles, scooters, pedal cars and similar wheeled toys, dolls, carriages dolls, other toys,reduced size “scale” recreational models, working or not, puzzles of all kinds.HS-9504 categoriesVideo game consoles and machines, articles for funfair, table or parlor games, printables,billiards, special tables for casino games and automatic bowling alley equipment.savills.in aequsinfra.comChina is the world leader in toyexports. In 2020-21, 71.1% of India’stoy imports was met by China,followed by Netherland (4.4%) andHong Kong (4.0%). Taiwan and USAaccounted for 3.2% and 3.0% 6.2%AUSTRALIAHONGKONGSource Ministry of Commerce, Government of IndiaNETHERLAND 2.9%FRANCE 3.1%3.2%OTHERS7.3%Exports by Value in2020-2021 (%)2.6%3.0%71.1%48.41.8% CHINAUSAUSACHINAPOLAND1.8%1.0%ITALY 2.4%JAPAN134.752.71.0%Imports by Value in2020-2021 (%)USAUKSRI LANKASINGAPOREHS-9503(USD mn)25.117.925.8Exports in2020-2021AUSTRALIA(USD 2129.67.3CHINATAIWANToy (HS-9503 & HS-9504) Exports and Imports of IndiaUSD mnToy Exports from India(includes toys, games & sports requisites, parts andaccessories)-2020-21SINGAPOREUSD mnSource Ministry of Commerce, Government of Indiatoys imports respectively duringthe same period. The export valueof toys, games and sportsequipment from India during2020-21 amounted to around USD402.4 mn. The major countriesacquiring a great share in exportsare USA (33.5%), UK (13.1%),Australia (6.2%), Germany (6.2%)and the UAE (3.4%).savills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaFactors Pushing the Toy Sector in r safetystandardsEmergence ofeducationaltoysMake in Indiainitiative10Strong growthpotentialHigher importdutiesLarge baseof childpopulationRobustecosystemsavills.in aequsinfra.com11savills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaMaking Headway : Toy Manufacturing Sector in IndiaEnabling Infrastructurefor Toy manufacturingLadakhHimachal PardeshJammu & KashmirUttar PardeshPunjabAmritsar-KolkataIndustrial CorridorDelhi-NCRBiharDelhi-MumbaiIndustrial CorridorRajasthanAssamGujaratWest BengalKandlaMundraKolkataHaldiaEssar HaziraMadhya iEconomic CorridorOdishaTelanganaVizag-ChennaiIndustrial CorridorVizagKrishnapatnamMorgugoaAndhra strial CorridorKarnatakaCochinTamil NaduTuticorinMajor Ports12InternationalAirportsDedicatedFreight CorridorsPlastic PlantsTextile Parkssavills.in aequsinfra.comIndustrial Corridors13National Investments andManufacturing ZonesInfluence regions of ProposedIndustrial Corridors in IndiaKolkata to UPWaterWaysavills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaMaking Headway : Toy Manufacturing Sector in IndiaMajor Toy Manufacturers in IndiaGovernment Initiatives & SupportThe government is promotingtoy exports at district level. TheMinistry of Commerce throughthe Director General of ForeignTrade (DGFT) is engaging withstate governments toimplement the initiative in alldistricts of the country in aphased manner. Many stategovernments are alreadyinviting global toymanufacturers to set upmanufacturing units in theirrespective states.Recently, Karnatakagovernment sanctioned 400acres of SEZ land in Koppal toset up country’s first toymanufacturing cluster. Similarly,Uttar Pradesh government hasallocated 100 acre land for toymanufacturing hub in GreaterNoida.The government of India isurging startups andentrepreneurs to develop “toysand games, for India and ofIndia” to meet the growingdomestic demand, to minimizeimports and to increase India’sshare in global toy exports.Government of India Initiatives1. Scheme of Fund forRegeneration of TraditionalIndustries (SFURTI)01Call to startups02Mandatory qualitycertification03Phased ManufacturingProgramme (PMP)04Programmes boostingthe toy sector T o equip traditional artisans ofassociated clusters with improvedskills.05Pumping investmentsinto the sector T o make provisions for commonfacilities & improved tools andequipments for artisans.06Educating consumers T o strengthen cluster governancesystems with active participationof stakeholders.07Inducing the value oftraditional toys08Involving various sectorsto uphold the toy storyObjectives: To organise the traditionalindustries and artisans intoclusters to make themcompetitive and provide supportfor their long-term sustainability,employment, and enhancemarketability of products of suchclusters. T o build up innovative andtraditional skills, improvedtechnologies, advancedprocesses, market intelligenceand new models of public-privatepartnerships to graduallyreplicate similar models ofcluster-based regeneratedtraditional industries.Source Ministry of Micro, Small & MediumEnterprises, Government of India14savills.in aequsinfra.com15savills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaMaking Headway : Toy Manufacturing Sector in IndiaToy Clusters Implemented and Approved Under SFURTI SchemeRajasthanDeep Hast ShilpWooden Toys ClusterTraditional Indian FabricBased Toys ClusterUdaipurSri GanganagarLegendsState NameApprovedWood Craft ClusterName of the ClusterDistrictImplementedJodhpurMadhya PradeshBamboo BasedIndigenous Toys ClusterTraditional Indian Bamboo andWood Based Toys ClusterBaihar, BalaghatSijohra Village, MandlaWood based Traditional IndianToys and Associated FabricBased Accessories ClusterSoft ToysClusterBarkheda, SehoreBarwaniUttar PradeshBamboo craft andBamboo Toys ClusterChitrakoot Wooden Toysand Carving ClusterLucknow Soft ToysClusterKarvi, ChitrakootLucknowRatlamMaharashtraPlush Toy ClusterParhbaniAndhra PradeshTamil NaduKarnataka16Sagara Woodcraftsand Toy ClusterChannapatna LacwareToy ClusterShivamoggaRamanagaraKondapali Toy ClusterKrishnaPalm Leaves Toys AndLeather Products ClusterVelloresavills.in aequsinfra.com17savills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaMaking Headway : Toy Manufacturing Sector in India2. National Toy Action PlanThe Government of India, by involving15 ministries has prepared a NationalToy Action Plan to make Indian toyindustry competitive. It is a big Make inIndia push for domestic manufacturingof toys. The formation of National ToyAction Plan, Vocal for Local and Makein India under the Atmanirbhar Bharatscheme are likely to benefit domestictoy manufacturers.Objectives of National Toy Action PlanSetting up toyproductionclusters acrossthe country1Strengthening theR&D infrastructurefor toys andgames promotingself-discovery andself-learning23Increasingawareness amongconsumers viaoutreach campaignsto boost purchaseof local toys45Creating aworking groupfor ‘Ek BharatShrestha Bharat’Utilising analyticsand digitalmarketing toolsfor targetedbrand promotions6PromotingLaunching centralinnovation&governmentdesignandschemes toupskilling artisansIntegrating toysincentiviseand games withmanufacturingeducation, specificallyand exportsfor subjects such asmathematics, historyand science1878Meetingcrowdsourcingprocurementneeds to boostdemand9Building toyrepositorycenters10Promotingdevelopmentof digital andonline games1112Organisinghackathons andgrand challenges toencourage designand innovationsavills.in aequsinfra.comOrganising annualtoy fairs andexhibitions acrossproduction hubs13Developing toylaboratories totest and monitorquality & safetystandards1914Observing anannual ‘Madein India ToyDay’ in schools15Focusing onproduction ofmechanical andelectronic toys16Airing specialprogrammes on toysand games on publicbroadcast channelssuch as Doordarshan(DD) and All IndiaRadio (AIR)17Strengtheningawareness andproduction ofindigenous toys suchas puppets, woodendolls, clay toys andtribal games18Developing ane-commerceplatform to providea centralised, directmarketing portal tohandicraft artisans19Promoting toysmade withrecycled andupcycled materials2021Building India’sfirst ‘Toy Museum’savills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaMaking Headway : Toy Manufacturing Sector in IndiaIndia Advantage3. Product Specific Industrial Cluster Development ProgrammeProduct Specific Industrial ClusterDevelopment Programme aims tobuild toy clusters in dedicated SEZsto help them become self-sustainedecosystems catering to exportmarkets, with an objective ofattracting investments and buildingexport capacity. Government ofIndia has approved eight toymanufacturing clusters with anoutlay of INR 2,300 crores (USD307 mn). Of the eight clusters, threeare likely to come up in MadhyaPradesh, two in Rajasthan, and oneeach in Karnataka, Uttar Pradeshand Tamil Nadu.These toy clusters are likely to bringefficiency in supply chains for bothraw material suppliers and toymanufacturers. The Department forPromotion of Industry and InternalTrade (DPIIT) and the Ministry ofMicro, Small and MediumEnterprises (MSME) are likely todevelop toy clusters under existingscheme, Scheme of Fund forRegeneration of TraditionalIndustries (SFURTI).AVAILABILITY OFRAW MATERIALThe main component used in toysis plastic and the other materialsused are wood, textiles and metal.India being world’s second largestproducer of polyester and relatedfibers is expected to benefit toymanufacturing sector.LOWEST CORPORATETAX IN ASIAGovernment of India has slashedCorporate Tax rates for newmanufacturing firms to 15 %, lowestin Asia.EASE OF DOINGBUSINESS (EODB)India’s rank improved to 63rdposition in 2019 from 142 in 2014.LOW LABOUR COSTSLabour intensive industry, the costof labour can account up to 50%depending on the type of toy. Lowwages and rate of growth of wagesis lower compared with thecompeting countries such as China,Thailand, Vietnam and Taiwanworks in India’s favor, besides alsogenerating much needed local jobsand supporting the MSME sector.AVAILABILITY OF LANDThe Government of India hasmapped as much as five lakhhectares of land for industrialpurpose, more than four times thesize of Hong Kong, spread across3,390 industrial belts and SpecialEconomic Zones (SEZs) in thecountry.INFRASTRUCTUREINVESTMENTSThe Government in India allocated atotal capital expenditure forindustrial infrastructure in India aspart of the National InfrastructurePipeline (NIP) programme forfinancial years 2020 to 2025 ataround USD 42.6 bn. This willempower businesses and createemployment as well as improveease of living.INDIA’S HUGECONSUMER BASEA population of over 1.3 bncomprises of a vast majority ofyoung people with approximatelyhalf of the total population underthe age of 25.FDIUnder the regulatory framework100% FDI is permissible throughautomatic route.PLI SCHEMEThe Government of India hasidentified the labor-intensive toymanufacturing sector in PLIscheme, likely to encouragedomestic toy manufacturing.Higher Import Duties and issue of Bureau of Indian standards (BIS)The Government is making effortsand providing support to boostthe toy industry. These effortsinclude raising Import Duties (upfrom 20% to 60%), issue of Bureauof Indian Standards (BIS) quality20savills.in aequsinfra.com21control orders effective from Jan2021 to adhere to the global safetystandards.The Government of India hasmandated sample testings of allconsignments of toys beingimported and to be permitted onlyif the quality tests are successful.This development is likely toencourage domesticmanufacturing and reduce importdependency.savills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaKey ChallengesNeed for end-to-end,integrated manufacturingfacilities22FragmentedmarketEconomies of scaleOrganised Skilled labourRaw materialcostsavills.in aequsinfra.com23savills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaHeadwayToy ay: Toy :ManufacturingSectorLocation DetailVocal For LocalLadakhBIDARLehMAHARASHTRAAequs Infra to develop First ToyManufacturing Cluster in oppal will have India’s first ToyManufacturing URGAKarnataka will leverage its rich legacy of Toy MakingAreaTUMKURKOLARHASSANDAKSHINAKANNADA400 acres tionMYSOREKoppal District, KarnatakaBy Road:Aequs InfraBengaluru – 380 kmHyderabad – 400 kmInfrastructureHyderbadKalaburagiHubballi – 95 kmBelgaum – 215 kmSangli MirajKupwadVijayapuraA fully integrated Toy ManufacturingEcosystemDeosugurRegional Airports:Likely InvestmentBELGAUMRaichurKurnnoolHubballi BellaryINR 5,000 Crores ( USD 667 mn)KOPPALHUBALLIJobs Creation40,0000Ballari95 KmsAH47International AirportsAnartapurDavanagereMurdeshwarBy Rail:Adjacent to well connectedrailway junction25AH43KARNATAKABengaluru Hyderabadsavills.in makuruBANGALOREMangalurusavills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaMaking Headway : Toy Manufacturing Sector in IndiaProposed Cluster26savills.in aequsinfra.com27savills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaMaking Headway : Toy Manufacturing Sector in IndiaInfrastructure EcosystemState-of-the-artCampus & Campus &InfrastructureIndustrialLand ParcelsCustomisedIndustrial FacilitySkill Centre24 x 7 PowerShared Services24 x 7 WaterCommon FacilitiesTreatment Plants100% recycling ofsewage waterWasteManagementBusiness CentrePower BackupCommonAmenity CentrePlug & PlayIndustrial BuildingsSEZ (Exports)28DTA (Domestic)WarehouseQuality CentreHealth CentreLogistics CentreTrading ZoneAncillary ZoneResidentialZonesavills.in aequsinfra.comManpower Sourcing &Deputation ServicesCommon Amenity CentreSafety & Securitythrough SurveillanceSystemsRobustRoad NetworksCustomisedIndustrialFacilityPlug & PlayIndustrialbuildingsAequs IndustrialEstate EcosystemWorkforceSourcing andDeputation ServicesIndustrialLand ParcelsAequs Industrial ouseAncillaryZoneResidentialZonesavills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaMaking Headway : Toy Manufacturing Sector in IndiaSupport Services Ecosystem: One-stop solution for OperationsServices Offered/FacilitiesManpower Sourcingand DeputationServicesCustomCompliance,Permits & Logistics06LegalSecretariat &HR Services05License, Permitsand Approvals,CFO & CFE Services30Office SpacesHealth mentPower mentPlant EngineeringDesign Services:Concept to Build03WaterSupplyConferenceFacilityHeavy VehicleParkingDIgitalSurveillanceIT & TelecomCentralisedWarehouseFire tatutoryComplianceUnitEstablishment& ComplianceTrainingCentreSharedServicesWorld Class Infrastructure Built-to-suit Turnkey Office Space 24X7 Operations Facility Management Health & SafetyBuddy Service:from Concept toCommissioningsavills.in aequsinfra.comProjectManagement31savills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaHeadwayToy ay: Toy :ManufacturingSectorPromotional Incentives by Government of Karnataka for Toy Cluster1Capital InvestmentSubsidy: 30% fixedassets on Land,Building & Machinery4Power Tariff Subsidy– USD 0.03 per unitfor 5 years7Wage Subsidy USD 20 per monthfor 5 years102100% reimbursementof Registration stampduty and Registrationcharges5Electricity dutyexemption – 100%for 5 years8Freight subsidy:year 1 & 2 - 75% &year 3 to 5 - 50%Views from Aequs Infra3Interest subsidy onterm loan - 5%6Rental Subsidy USD 0.07 persq. ft. per month9Skill Development- USD 167 percandidateIndia has emerged as a forerunnerfor business continuity plans,strategically located amongst theAfrica, Middle East, ASEANcountries and East Asianeconomies. It provides inventoryof low risk and asset light andsuccessfully implemented modelswith ready-built industrialinfrastructure that renders builtto-suit, offering higher capexsavings.Key growth drivers are hugecustomer base, rising disposableincome and diverse productcategory. Under the regulatoryframework 100% FDI ispermissible through automaticroute. Additionally, improvedbusiness friendly policiesextended around favourable taxincentives offer increasedprofitability.Social Security (ESI & PF) - Exemption onemployer contribution 75% for 5 YearsIn the post pandemic scenario,industries all over the world aredeveloping alternative businesscontinuity plans, and India hasthree distinct advantages in thisregard. Reduction of corporatetaxes for setting up of newindustries (lowest in Asia), host toGlobal in-house Centres (GICs)and Global Centre of Excellence(GCoEs) for several manufacturingcompanies that provide for morerobust ecosystem and R&D andlastly, the added attraction of alarge domestic market along withprospects of a manufacturingexport hub.India is already home to severallarge multi-national manufacturingcompanies and even hostsdedicated Investment Zones fromcompanies from select countriescreating a familiar ecosystem. Theavailability of labor at competitivecosts, flexible labour laws, vastavailability of raw materials,plug-and-play facilities, favourablebusiness environment, proposedPLI scheme for toy sector,incentives and subsidies byCentral & State governments arelikely to make India a toymanufacturing hub. In addition tothese, the increase in customsduty and implementation of highersafety standards are likely toencourage domesticmanufacturing.Koppal toy cluster offers manybenefits being strategicallypositioned right in the center tocater to 50% domestic toy market.Note USD to INR Convesrion @7532savills.in aequsinfra.com33savills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaThe Way ForwardSavills ViewpointsManufacturersInvestorsGovernmentEnd users34Indian skilled labour in the toys manufacturing sector is cheaperin comparison to global competitors like China and Taiwan. Theimport duty hikes, higher certification standards for import oftoys manufactured outside the country are expected toencourage domestic toy manufacturers. In addition, availabilityof raw materials, supporting infrastructure and governmentsupport are likely to boost the industry.Given the growth potential, the investors are likely to considerthis asset class for their capital investment. Investors areexpected to diversify their portfolios and continue to invest inthis emerging asset class. Domestic and offshore funds areexpected to diversify their portfolios and continue to invest in theemerging toy manufacturing sector.Many state governments are offering fiscal incentives includingup to 30% in capital investment subsidy, which is a strongincentive for toy manufacturers. In addition to these, there areinterest subsidy on term loan, power tariff subsidy, electric dutyexemption, reimbursement of stamp duty and registrationcharges. Other subsidies by state governments including rentalsubsidy, wage subsidy and skill development incentives will likelybenefit the industry.Capitalising on the advantage of raw materials and cost of labor,India is likely to become one of the largest manufacturer andexporter of toys in the future. In addition, the higher importduties issue of Bureau of Indian standards (BIS), quality controlorders to adhere to the global safety standards will encouragedomestic manufacturing and result in availability of India madetoys at relatively lower prices with higher safety standards.savills.in aequsinfra.com35savills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaMaking Headway : Toy Manufacturing Sector in IndiaSavills GlobalUNITED KINGDOM& IRELAND131 OFFICES &ASSOCIATESEUROPE123 OFFICES 1,741million2020 GLOBALREVENUEOver600OFFICES ACROSSTHE W ORLDOver39,000PEOPLE INOVER 70COUNTRIESAMERICAS &CARIBBEAN68 OFFICES &ASSOCIATES36MIDDLE EAST& AFRICA227 OFFICES &ASSOCIATESsavills.in aequsinfra.comASIA PACIFIC61 OFFICES &ASSOCIATES37savills.in aequsinfra.com
Making Headway : Toy Manufacturing Sector in IndiaAuthorCentral ManagementRegional ContactsSrinivasa ReddyAssociate Director-IndustrialResearch & AdvisorySrinivasa.reddy@savills.inAnurag MathurChief Executive OfficerSavills Indiaanurag.mathur@savills.inAllan BrassDirector –CBTAAmericasabrass@savills.usSrinivas NManaging DirectorIndustrial & Logisticssrinivas.n@savills.inMarcus de MinckwitzHead of Industrial and LogisticsEMEAMdeMinckwitz@savills.comDesignersKei ShimizuManager –Tenant RepresentationJapanKShimizu@savills.co.jpBusiness EnquiresAbout SavillsSavillsSavills plc is a global real estate services providerlisted on the London Stock Exchange. We have aninternational network of more than 600 offices and39,000 people throughout the Americas, the UK,continental Europe, Asia Pacific, Africa and theMiddle East, offering a broad range of specialistadvisory, management and transactional services toclients all over the world.Savills IndiaSavills is India’s premier professional internationalproperty consulting firm. Savills began its Indiaoperations in early 2016 and has since seensignificant growth. With offices in Bengaluru,Mumbai, Delhi NCR, Chennai, Pune and Hyderabad;and also having serviced clients in Kolkata,Chandigarh, Guwahati, Bhubaneswar, Vadodara andIndore, Savills India has a strong pan-India platformto deliver to our clients.About Aequs InfraAequs INFRA the infrastructure arm of Aequs Group isengaged in the activity of Development, Operation andMaintenance of Industrial estates and real estateassets, with endeavor to create world class campusand experiences to our esteemed industrial clients.Aequs SEZ is also the proud developer of the country’sfirst Aerospace SEZ in Belagavi, involved inDevelopment, Operation and Maintenance of state-ofthe-art SEZs which caters to the needs of industrialunits engaged in highly specialized manufacturing andauxiliary activities. We are on the verge of nowcompleting yet another India’s first “Toy Cluster” inKoppal and Consumer Goods Cluster in Hubballi,Karnataka.aequsinfra.comSavills in India is a full-service advisor offeringCommercial Advisory & Transactions, ProjectManagement, Capital Markets, Valuations &Professional Services, Research & Consulting,Industrial & Logistics and Residential services. Theblend of in-depth, sector specific knowledge withentrepreneurial spirit gives clients access to uniqueand innovative real estate solutions backed up bythe highest quality of service delivery.Namit KanchanDirector - Industrial & l Manager Business DevelopmentBalamurugan.sampath@aequs.comMedia QueriesNitin BahlDirectorMarketing, Sales and Strategynitin.bahl@savil
5. Enabling Infrastructure for Toy manufacturing 12 6. Major Toy Manufacturers in India 14 7. Government Initiatives & Support 15 . 2.7 2.4 2.4 1.8 1.3 1.1 1.0 0.9 0.13 8.5 Source World Bank, 2019 Making Headway : Toy Manufacturing Sector in India Making Headway : Toy Manufacturing Sector in India Global Toy Manufacturing
TIME HEADWAY (HEADWAY) Time headway (h): is the difference between the time the front of a vehicle arrives at a point on the highway and the time the front of the next vehicle arrives at that same point. Time headway is usually expressed in seconds The microscopic character related to volume is the time headway
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Meekings 2 Contents 3 Declaration 4 Abstract 6 A Mist that Rises from the Sea 215 How A Personal History is Constructed: An Annotated Index of the Past 215 A. Aberdeen Bestiary 226 B. Beginnings 233 C. Chronophobia 237 H. Happiness
