There are a few things that go through every child's mind and playing with their favourite toy is one such thing that is on the top of their priority list. Each child always looks forward to returning back to his/her home after school hours just to be close to their favourite toy and spend time fiddling or playing with it. Some children preserve it as closely as if their life would depend on it. As times have changed, children's demands for toys have changed too as now they no longer love the usual run of the mill toys. Since the world has become techno-centric, with each day seeing the introduction of a new electronic toy or game, children too have become fond of the latest version of their toys. With these changes also have come a large variety of toys in the industry. Industry Overview
Since 'Action Man' replaced 'GI Joe' and mini-motorbikes and teddy bears started acting as toys, the market has seen a northward shift in sales of toys. The domestic Indian toy industry is now worth approximately Rs. 1000 crore and this important fact goes on to rub in the fact that innovation indeed is the order of the day. Toys, unlike in the past are now sold around the year. At present, 40 per cent of the sale happens during festivals and another 40 per cent during fairs and exhibitions. The remaining 20 per cent is round-the-year sale. The industry is growing at 20 per cent annually and approximately one-third of it is unorganized. Also, the Chinese angle as always plays a huge role. Their toys have flooded the market during the last few years. Sold at an average price of Rs.35/- by the hawkers on the city pavements, these innovative toys find tremendous customer interest. When it comes to electronic and battery operated toys, China still rules the roost even though the domestic manufacturers have hit back at them in some other categories of toys in the recent times. 
The Design Center
The Government of India and the United Nations Industrial
Development Organisation (UNIDO) in association with
IIT Powai are planning to set up a toy designing centre
in Mumbai, which will be a huge windfall for the unorganised
toy industry in India. Toy exports are also expected
to rise by a massive margin once the centre is set up.
A first of it's kind in India, the design centre will
make six creative and skill enchancing games to kick
start their setup. It will also aid in curbing the Chinese
toys, which have made the biggest indentation in the
domestic toy industry.
Hence, be it an educational toy or an entertaining one, the role of toys in the development of a child or for that matter the development of the toy industry with regards to introduction of newer toys and games can never be underestimated and since it is now on the incline, the future is looking brighter than ever.
