Koppal Toy Cluster
The Koppal Toy cluster is the first toy manufacturing cluster. It is to operate from March 2022.
About Koppal Toy Cluster
It is to be established in 400 acres of land. It will hold the entire chain of capabilities of toy making. This includes toy making, tool making, production of packaging, developing electronics, paint making and all other accessories. After completion, the toy cluster will house 100 small and large manufacturing units in the Special Economic Zone. This includes units for domestic manufacturing and exports as well.
The cluster is to attract Rs 4,000 crores of investment. It is expected to create 25,000 direct jobs and one lakh indirect jobs. More women participation is expected.
Segmentation of the cluster
The cluster is to manufacture different types of toys. This includes electronic toys, plush toys, pre – school toys, outdoor toys, infant toys, dolls, educational toys. The toys such as remote-controlled cars, electronic vehicles and ride – on toys have huge markets.
The toy industry of India is highly fragmented. There are more than 4,000 toy manufacturing units operating in India. However, only 10% of these accounts to organised sector. Therefore, it is essential to create more such toy clusters.
Role of Aques Infra
The Koppal toy cluster is an initiative of Aequs Infra. It is mainly focused on developing manufacturing ecosystems in three locations. They are Koppal (Light Engineering Goods and Toy manufacturing), Belagavi (Aerospace sector and Precision engineering) and Hubballi (Consumer Goods and Appliances).
In February 2021, the Government of India approved eight toy manufacturing clusters at a cost of Rs 2,300 crores. Of these three are to be established in Madhya Pradesh, one each in Uttar Pradesh, Karnataka and Tamil Nadu and two in Rajasthan.
Part of National Action Plan for Indian Toy Story
The clusters are to be launched under this plan. The aim is to reduce import dependence. India’s toy imports were 1.5 billion USD in 2020. Of these 90% were from China and Taiwan. The plan aims to establish 35 toy clusters in the country.
Category: Economy & Banking Current Affairs - 2022
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