Aequs Private Limited to set up India's first toy cluster in Karnataka

Aequs Private Limited is developing a 400-acre toy manufacturing cluster at Koppal in Karnataka at an investment of $500 mn, its Chairman Aravind Melligeri said. "Toy industry globally is a $90 billion-market and Indian market size is about $ 1.7 bn," he said. India imports $1.2 bn worth of toys annually, mostly from China and the toy cluster being developed is to raise domestic manufacturing.

"China exports $20 bn worth of toys and recreation goods annually," he said. Aequs, which has two units operating at its Belagavi SEZ, is a contract manufacturer just like Foxconn, which makes iPhones for Apple Inc. It caters to some of the largest North American and European toy brands. Aequs exports products across the world, primarily to the USA, Latin America, and Europe.

Prime Minister Narendra Modi has been a vocal supporter of expanding domestic toy manufacturing. Last year, he had spoken of the nation becoming self-reliant in every field, including in toys. He will inaugurate ''The India Toy Fair 2021'' on February 27, bringing together all stakeholders including buyers, sellers and designers on a virtual platform to create sustainable linkages and encourage dialogue for the overall development of the industry.

23 views0 comments