GOLDEN TIME FOR CHINESE TOY COMPANIES TO EXPLOIT INDIA MARKET
India is a major developing country, one of the BRIC countries, and also an important player on The Belt and Road “. Its enormous population, huge market potential, and increasingly open attitude, attract the attention of the world. According to data from India Central Statistics Office, in 2016, India’s GDP growth rate soared to 8%, the highest in five years! In recent years, bilateral trade between China and India developed rapidly and the growth rate keeps increasing.
In recent years, India toys industry had a two-digit growth rate. Due to development of the middle class in India, India toy industry has become the market that domestic and foreign merchants fiercely fight for. There is a huge demand for toys in India. From 2009 to 2014, Indians’ expenditure on toys grew by nearly 157%, much faster than in other Asian countries and regions, such as Mainland China, (84%).
However, nearly half of the India toy market is occupied by Chinese toy manufacturers. Only 20% of toys consumed in India are made by Indian manufacturers. Moreover, the market is diversified with low concentration. China’s low-price toys are very attractive to indian consumers. India’s total import volume of toys has grown at a CAGR of 25.21% over the past ten years. From 2001 to 2015, the CAGR of toys imports from China reached 30%.
In short, with increasing per capita income and rapid economic development, there is a growing consumption demand for toys in India. The market is enormous with huge potential, which presents a good opportunity for Chinese enterprises.
In order to help Chinese toy enterprises exploit India market, we now invites toy enterprises across China to participate in 2017 the 15th China Products (Mumbai, India) Exhibition — China Toy Industry Pavilion.
Exhibition Name：2017 The 15th China Products (Mumbai, India) Exhibition
Exhibition Date：Nov. 16-18, 2017
Exhibition Venue：Bombay Exhibition Center（BEC）