Business
Cheaper, better & more durable Indian toys to replace Chinese toys in markets
With a total of 134 big industrialists having acquired land at Noida’s Toy Park to set up their factories at the cost of Rs 410.13 crore, the industrial town in Gautam Budh Nagar district of Uttar Pradesh bordering Delhi, is poised to become a major manufacturing hub of toys in India with enough potential to challenge China’s booming toy industry,
According to Yamuna Expressway Industrial Development Authority (YEIDA) officials, the toy factories will provide permanent jobs to 6,157 people.
It is worth mentioning here that Prime Minister Narendra Modi had called for increasing the country’s share in the global toy business last year. Subsequently, Uttar Pradesh Chief Minister Yogi Adityanath decided to construct a Toy Park in Noida and 100 acres of land was earmarked in Sector 33 of Yamuna Expressway Industrial Development Authority area to promote the industry.
Industrialists were invited to invest in the park and due to the investor-friendly policies of the Yogi Government, many big players in the toy business came forward to set up their their units at the Toy Park. Altogether 134 companies have so far been allotted land for setting up their factories at the Toy Park and construction of their units is likely to begin soon.
Major national companies that have acquired land at the Toy Park are: Fun Zoo Toys India, Fun Ride Toys LLP, Super Shoes, Ayush Toy Marketing, Sunlord Apparels, Bharat Plastics, Jai Shree Krishna, Ganpati Creations and RRS Traders.
According to YEIDA officials, the acquisition of land by major players in the toy industry, such as Fun Zoo Toys India and Fun Ride Toys, is highly significant as they can challenge the monopoly of Chinese toy makers. The biggest challenge before the Government, however, is that out of 4,000 micro, small and medium enterprises in the toy manufacturing business, 90 percent are in the unorganised sector. Therefore, Chief Minister Yogi Adityanath has taken this initiative to promote the toy industry.
According to an estimate, India’s toy industry will be worth Rs 147-221 billion by the year 2024, given the fact that the demand for toys in India is rising at a faster pace compared to the global rate. Against the global average of the demand for toys increasing annually by five percent, India’s demand is rising by 10-15 percent. However, the fact remains that India currently exports toys worth Rs 18-20 billion only annually due to the presence of the vast majority of manufacturers in the unorganised sector. India is also unable to compete with foreign players in toy business due to the higher cost of its products compared to theirs, owing to its whopping manufacturing cost.
The Toy Park at Noida seeks to reduce the cost of manufacturing of Indian toys while guaranteeing its quality. The Government is relying on use of state-of-the-art technology by manufacturers to produce high-quality, more durable and cheaper than the Chinese toys. Chinese toys are expensive and have a short life. Therefore, it is now believed that the demand for Chinese toys will decrease as Indian toys start flooding markets with the manufacturing of toys in Noida.
According to people, the demand for Chinese decorative lights and Lord Ganesh’s and Goddess Lakshmi’s idols has dropped sharply in the recent past during the festival of lights (Diwali) because better quality, cheaper and durable indigenous products are available now.
So, the day is not far away when small children will be seen playing with toys made in Noida, instead of Chinese toys.
Business
Apple is giving a huge discount on its gadgets: Details inside
If you want to buy an iPhone and were waiting for a nice offer, then we have a piece of good news for you! Amazon Summer Sale May 2022 has begun and they are offering major discounts on various smartphones, laptops, and smart TVs, among others.
The sale is live now on the e-commerce platform with no-cost EMI options and exchange discounts on various products. In addition to this, Amazon has also partnered with several banks including ICICI, Kotak Bank, and RBL so that customers get instant discounts of up to 10% using their cards and EMI transactions.
Customers can easily enjoy this summer sale and get massive discounts on iPhones. They can also compare prices on Flipkart Big Saving Days Sale 2022 before making a purchase.
Amazon Summer Sale May 2022: Discount offer on iPhone 13
Apple’s coveted phone model iPhone 13 in the 128 GB storage model will be available during the Amazon Summer Sale May 2022 for Rs 64,900. The MRP of the phone is Rs 79,900. This means that the customers will be able to enjoy a discount of up to Rs 15,000 on the purchase of the iPhone 13.
If you have an old iPhone in working condition then you will also be eligible to receive another additional discount worth up to Rs 17,000 on the iPhone 13.
Buy at Rs. 64,900 (MRP – Rs. 79,900)
Features of Apple iPhone 13
The iPhone is powered by an A15 Bionic processor with 6 core CPU. Apart from this, it has 16 core neural engines. With the iPhone 13, up to 512 GB of storage will be available. The iPhone 13 has a 6.1-inch Retina XDR display with 1000 nits brightness.
The iPhone 13 has a 12-megapixel dual rear camera setup. This time a new wide-angle camera has been given, whose aperture is f/1.6. With this, there is support for sensor optical stabilisation. Night mode has been made better than before. The second lens is also 12 megapixels ultra-wide and has an aperture of f/2.4.