Contract Manufacturing of Toys, Manufacturing in India: Bidso
Introduction:
For companies seeking to produce toys without investing in their own manufacturing facilities, contract manufacturing is a strategic approach. In India, the toy industry is thriving, with several toy manufacturers offering contract manufacturing services. The article explains what Contract Manufacturing is, and how to select the right manufacturer.
Benefits of Contract Manufacturing Toys:
-The contract suppliers’ expertise and infrastructure allow companies to benefit from lower production costs.
-Businesses can focus on design, marketing, and distribution if they outsource manufacturing.
-Access to Expertise: Contract manufacturers in India have extensive experience and expertise in toy manufacturing, ensuring high-quality products.
-You can scale contract manufacturing so you can meet fluctuating demand without investing a lot in infrastructure.
Toy Industry in India:
India is home to a vibrant toy industry, with a rich history of toy manufacturing. An expanding domestic market, competitive manufacturing prices, and a trained labour pool all support the business.
Indian Toy Story Expands Worldwide: Impressive 239% Gain in Indian Toy Exports from FY 2014–15 to FY 2022–2023
One of the champion industries with substantial export potential is the toy industry. The Indian toy industry is expected to see one of the quickest growth rates in the world, reaching $3 billion by 2028, with an estimated yearly growth rate of 12% between 2022 and 2028.
The Indian toy business is growing its worldwide footprint, with more high-value exports to Middle Eastern and African countries. The import tariff on toys was raised from 60% to 70% in Budget 2023. The Toys Quality Control Order (QCO) was adopted in 2021 to improve uniformity in toy production and imports, hence ensuring product safety.
- Domestic market size currently stands at an estimated value of $ 1.5 Bn
- Manufacturers that are small and medium sized dominate the industry.
Finding Contract Manufacturer in India:
Choosing the right contract manufacturer in India is crucial for the success of your toy manufacturing project. Consider factors such as manufacturing capabilities, quality control measures, production capacity, and reputation in the industry. Conducting thorough research and due diligence can help you find a reliable and capable contract manufacturer.
FAQ:
- What is contract manufacturing in the toy industry?
Contract manufacturing in the toy industry involves outsourcing the production of toys to a third-party manufacturer.
- What are the advantages of contract manufacturing toys in India?
Contract manufacturing of toys in India is an affordable, and quality-controlled option, which makes it a preferred choice for companies looking to shift their toy production. This approach provides access to affordable production, expertise, and quality control, making it a great alternative for toy manufacturers.
- How do I choose the right contract manufacturer in India for toy manufacturing?
When choosing a contract manufacturer in India for toy production, it’s important to consider factors such as manufacturing capabilities, quality control measures, production capacity, and reputation in the industry.
