Indian Toy Market: Major growth opportunity
India’s toy market offers significant long-term growth potential, driven by the country’s large young population and more than 20 million newborns each year, according to May Liang, Chair of the China Toy & Juvenile Products Association, during her visit to a toy exhibition in New Delhi.
Exploring opportunities
A delegation from China, Taiwan, and Hong Kong attended the exhibition to explore opportunities for closer cooperation with Indian industry partners. Discussions focused on expanding collaboration, particularly in the ride-on toy segment, with both sides expressing strong interest in strengthening existing ties between their respective industry associations.
Demographics as major opportunity
Liang described India’s demographics as a major opportunity for the global toy industry and praised the reception she received from members of the Indian Toy Association during her first visit to an Indian toy fair.
She also highlighted improvements in the quality of India’s toy manufacturing sector, noting that the presence of multinational companies, including Hasbro, has helped raise production standards in recent years.