Kids India 2024 will be held on 12th to 14th Sept 2024 at Jio World Convention Centre, Mumbai, India. The toys industry in India has the potential to grow to $2-3 bn by 2024. The Indian toy industry is only 0.5% of the global industry size indicating a large potential growth opportunity. The domestic toy demand is forecasted to grow at 10-15% against the global average of 5%.
While the desire to play is as unabated today as ever before, the global toy industry has come a long way. The nature and techniques of play are fast evolving keeping pace with changes in technology and market demands. Whereas globalization has expanded market access for raw materials and finished goods, the COVID-19 pandemic has exposed the vulnerabilities of global firms procuring from a single source market. The established need for de-risking supply chains has presented India with another opportunity to embrace its heritage and inherent advantages in skill and technology to become a global player in the industry. The Indian toy industry is also capable of registering strong growth, owing to a large domestic market, growing middle class with rising income promises, the decline in the average number of children per family and increased attention to quality and premium. Crafting toys for the current generation of children demands a very diverse approach than some ten years ago as the so-called Generation Alpha (children born from 2010 to 2025) are far more conscious than the previous one. Hence alongside sustainability, moving a step towards local empowerment has become the need of the hour, particularly in the post-pandemic world.The Indian government has highlighted the promotion of exports and toy manufacturing in our country by formulating various schemes. toys.
