Trend of production and productivity of toys industry in India and way ahead

Seminar paper from the year 2020 in the subject Business economics - Supply, Production, Logistics, grade: A, Rajiv Gandhi University, course: B.A LL.B., language: English, abstract: This paper analyses the trends of production of the toy industry in India. Today India is dealing with the problem where it is more dependent upon other countries to fulfil its requirements by importing goods. One of such industries is toys industry. This industry may always remind about a child but the significance of this industry is not something trivial. India consists of a very big market for toys because of its humongous population. As India is a developing country so, it is clear that the standard of living will rise in India and this will give a boost to the toy’s market in India. The paradox here is that, India has one of the biggest market of toys but India’s toys industry is struggling a lot. The government of India is planning to boost this industry. This will fetch two desirable result for our nation. Firstly, it will strengthen the vision of ‘vocal for local’. Secondly, it will also culminate the attachment towards the Indian culture and tradition in the heart of an Indian child. The government is planning so many things to boost this industry. Prime Minister, in the monthly edition to his ‘Man ki Baat’ has emphasised on the importance of this industry in achieving self-reliance. He had also emphasised that in the contemporary times china is dominating toy industries in whole of the world and even in a humongous market like India . PM has also urged entrepreneurs to innovate in this sector and develop indigenous toy industry.