Lucknow: Yamuna Expressway Industrial Development Authority (YEIDA) on Sunday stated that the production of the toy’s at the park which is currently under construction will be commenced within a year.
According to a senior YEIDA official, with the commission of this toy park, India will potentially surpass China in the matter of production of toys and will establish its dominance in this market at the global level.
After the construction of the new Toy park, the India’s toy export and production will surge drastically. However, currently India is exporting its toys to around more than 50 countries.
In a significant move towards realizing the ‘Make in India’ vision, the YEIDA has laid the foundation stone for a Toy Park in Sector 33, covering a sprawling 100 acres of land. This initiative is a part of Chief Minister Yogi Adityanath’s mission to support Prime Minister Narendra Modi’s ‘Make in India’ campaign.
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Anil Kumar Sagar, Chairman of YEIDA, marked the commencement of industrial unit construction within the Toy Park. A total of 142 plots across various categories have been allocated for these industrial units, and progress is well underway. Currently, 91 units have received their checklists, and lease deeds have been successfully processed for 39 units.
Ajay Aggarwal, President of the Toy Association of India, expressed optimism about the project’s progress. He expects several factories to complete construction and begin production within the coming year.
Notably, India has witnessed a decline in toy imports and a significant surge in exports, aligning with PM Modi’s ‘Make in India’ initiative. Aggarwal encouraged entrepreneurs to prioritize the production of high-quality toys within the Toy Park, emphasizing the abundant opportunities available in India’s thriving toy industry.
The Toy Park will be a hub for the production of a wide variety of items, including soft toys, electronic toys, wooden toys, ride-on toys, slides, board games, plastic toys, playground equipment, and more.
Leading companies in the toy industry, such as Fun Zoo Toys India and Fun Ride Toys LLP, among others, will establish units specializing in soft toy manufacturing, ride-on toys, electronic toy production, mechanical toys, electronic transformers for toys, and electrical toys on the allocated plots.
YEIDA is also developing a common facilities center spanning five acres within the Toy Park cluster. Once completed, the Toy Park will stand as the largest manufacturing cluster for toys in India, promising significant employment opportunities.
The estimated cost of the Toy Park project is around Rs 1,100 crore and is expected to create direct and indirect employment opportunities for up to 6,000 individuals.
YEIDA is providing comprehensive facilities as per the Government of India’s PLI (Production-Linked Incentive) scheme. This initiative was formulated in response to the Toy Association’s demand, and YEIDA has already executed essential development projects, including roads, sewerage systems, electrical lines, and water supply.
The Toy Park cluster will offer enhanced security, transportation facilities, and essential amenities, including electricity, water, and road connectivity. Additionally, a flat factory will be constructed within the Toy Park cluster to accommodate ancillary industries supporting the toy sector, further bolstering the ‘Make in India’ mission.
