Visitors admire a LEGO Colosseum during the LEGO Works Exhibition “The Brickman Experience” in San Jose, Costa Rica, on January 26, 2019. Image used for representative purpose only.
| Photo Credit: AFP
A three-day toy fair will begin on July 8 in the national capital, which is expected to see participation from about 5,000 buyers and industry players from at least 25 countries, the Toy Association of India said on Monday.
The industry body said that CEOs of about 20 global sourcing companies, including Walmart and Lego, would also visit the fair.
More than 250 Indian brands would display their products during the fair, which is being organised at Pragati Maidan.
Toy Association of India Chairman Manu Gupta said that the 14th Toy Biz International B2B Expo 2023 is the largest fair in South Asia.
“This is a great opportunity for Indian toy makers to showcase their products and capabilities to global audience. This exposure can help them attract new customers and partners, expand their market reach and increase their brand recognition,” he said.
In addition, he said, Toy Biz also provides a platform for industry players to network and connect with each other, which can help foster collaborations, partnerships and joint ventures.
“This can lead to new business opportunities and innovations, as well as access to new markets and distribution channels,” Mr. Gupta said, adding the expo also provides a platform to drive innovation in the Indian toy industry, by providing a forum for industry experts to discuss new trends, technologies, and best practices.
He added that the expo can also help raise awareness about the importance of the Indian toy industry, both domestically and internationally.
Wooden toy maker Little Genius Toys CEO Naresh Kumar Gautam, who is participating in the fair, said that such events would help India position itself as a key player in the global toy market, and attract investment and support from stakeholders across the world.
“Three-four years back, we used to request people to participate in this expo, but because of a series of measures by the government, the Indian toy industry is growing at a faster pace and now people are in queue to participate in the expo. We have also invited 250 foreign participants,” Mr. Gautam said.
Mr. Gautam also informed that his company and playground equipment maker Maskeen Toys would ink agreements with Federation of Indian Chambers of Commerce (Philippines) for doing business in the sector.
“We have received advance payments also from them,” he added.
Maskeen Toys Director Sahibjeet Singh said that the government measures like increasing import duties are helping the sector and “we are able to export in regions like the UAE, Central African, Australia and Philippines”.
For all the latest business News Click Here
