Chennai, 8 December (IANS). Tamil Nadu Chief Minister M.K. Stalin has announced Toy Manufacturing Policy 2025. In this, an ambitious roadmap has been prepared to establish the state as a global center for design, development and production of next generation toys.
Along with large-scale manufacturing, the policy seeks to revive Tamil Nadu’s age-old artisanal toy traditions and integrate them with modern supply chains. The policy focuses on the large global toy market, which is estimated to be worth about $180 billion in 2024, while India’s share in it is less than one percent.
Officials see this gap as a significant high-growth opportunity for Tamil Nadu. To capitalize on this, the state government aims to attract at least 10 anchor investors, set up a dedicated toy manufacturing park and promote creative design studios to promote research, innovation and creation of high-skilled jobs.
Future and high-value product categories such as STEM-based educational toys, electronic and interactive toys, puzzles and board games, action figures and plus dolls will be prioritized. Large investments of more than Rs 50 crore, generating at least 500 jobs, will get a special incentive package. This includes fixed capital subsidy, exemption in land allotment, exemption in stamp duty, training subsidy, assistance for quality certification, assistance in creating intellectual property and relief in electricity tax.
Micro, Small and Medium Enterprises (MSMEs) in toy manufacturing will be eligible for capital subsidy of up to Rs 1.5 crore, as well as payroll support, IP creation subsidy, and interest reimbursement under the MSME Policy 2021.
The policy also offers targeted incentives for manufacturers that create experiential learning toys and inclusive toys for children with special needs that combine social impact with global safety and accessibility standards.
To promote creativity-based enterprises, creative design studios established in the state will be given 30 percent payroll subsidy for 12 months. The policy will be valid for five years and will be implemented through the Department of Industries, with SIPCOT acting as the nodal agency for incentive distribution, as well as separate facilitation systems for MSMEs.
–IANS
SCH/AS