Union Minister for Micro, Small and Medium Enterprises (MSME) Virbhadra Singh on Saturday said the government would take all steps to safeguard the interests of Indian toy industry, particularly in view of dumping of cheap Chinese products.
“We are ready to render any kind of support to the industry by providing easy credit, marketing assistance like bar coding and ISO certification. China has its presence not only in toys but also in other sectors, as they have mass production. They dump their products all over the world. I am sure that our products will compete with China,” Mr. Singh said after inaugurating the Toy Biz International Exhibition here.
Stating that the Indian toy industry that was worth Rs.6,000 crore was competent enough to compete with the Chinese products, Mr. Singh said the Indian industry had immense potential as the country has 2.4-crore kids below the age group of 10.
“Only 20 per cent of the market is served by Indian manufactures and rest by import of toys from different countries, including China. We hope that Indian manufacturers would not only improve their presence in the Indian market but would also excel in exports,” the Minister added. Participants from over 80 countries including Germany, China and Spain are taking part in the fair.
