- PM Modi on Saturday meeting said new growing Indian startups should focus on making innovation on the toy and gaming industry.
- India is having a huge potential for growth in the gaming industry.
- Prime Minister Modi said toys and games can be an excellent way to further the spirit of Ek Bharat.
- India is the home of artists and creative minds that can help in growing the toy and the gaming industry.
- Currently, China is leading the toy market with average revenue of $62.8 billion.
- Toys can be an excellent medium to further the spirit of ‘Ek Bharat, Shreshtha Bharat’, says PM
On Saturday Prime Minister Narendra Modi held a substantial meeting with ministers and officials to discuss the ways to boost growth in the toy and gaming industry.
PM Modi urged new Indian startups and young entrepreneurs to start focusing on making innovation and improvements in the toy and gaming industry.
Furthermore, PM Modi said making innovation and improvements can bring a significant boost in the toy and gaming industry.
India is a home of artists and creative minds that can help in bringing the boost in the toy and gaming industry. India is having a huge potential for growth in this sector. Startups and young entrepreneurs should focus on making innovation to lead the international gaming sector by developing games within the country.
Moreover, PM Modi said, "India is home to several toy clusters and thousands of artisans who produce indigenous toys which not only have cultural connect but also helps in building life-skills and psychomotor skills among children at an early age".
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India is having a huge potential of growth and can bring a transformation change in this sector by promoting 'Vocal For Local' under AtmaNirbhar Campaign through creative and innovative minds.
By highlighting the importance of toys in the children's mind, PM Modi said,
"Toys aligned with Indian culture and ethos should be used as pedagogical tools across all Anganwadi Centres and Schools for all-round development of children. He even suggested that youth should be engaged to come up with innovative designs and toys that can instill a sense of pride towards National goals & achievements".
According to Statista, China is leading the toy manufacturing sector with average yearly revenue of $68.2 billion. Following India, the toy manufacturing sector has generated over $38 billion this year (2020).
Following Statista data, the Toy industry has generated total revenue of $90.7 billion in 2019.
India is having huge potential and startups should tap the big opportunity in this industry and should lead the global digital gaming industry by developing games that are inspired by Indian culture and folk tales. said, PM Modi.