Having laid the foundation stone of India’s first and largest self-reliant toy manufacturing ecosystem in Koppal, we embark on our journey to change the toy manufacturing landscape in India.
Strengthening our decade long experience and success in running the Belagavi SEZ, we aim to replicate the same by setting up the toy manufacturing ecosystem at Koppal, attracting global manufacturers and suppliers. But then, the Koppal Toy Cluster is more than just a toy story.
January 9, 2021 is major milestone for Aequs, as we raised the curtain on our toy story with Honourable Chief Minister of Karnataka, Shri B.S. Yeddiyurappa gracing the groundbreaking ceremony for the Koppal Toy Cluster (KTC).
The occasion was also graced by the Hon’ble Minister for Large & Medium Scale Industries, Shri Jagdish Shettar, and his cabinet colleagues and other senior officials from the Central Government. The ceremony was a great success garnering over 5,000 audiences attending the on-ground event and more than 6,000 attending it virtually.
But then, as our Chairman Aravind Melligeri said at the ground breaking ceremony, KTC is more than just a toy story. It is a mission to spread happiness and create memories for children, not just in India but also across the world.
The cluster will generate over 25,000 direct jobs, in addition to the 100,000 lakh indirect jobs, over a decade.
The project taken up in response to the Prime Minister’s clarion call to be “vocal for local”, the Koppal toy cluster is aligned with the Government of India’s Aatmanirbhar Abhiyan to become self-reliant and a global force to reckon with.
The global toy market is valued at $80 billion, with India accounting for a mere 1% of it. The demand for toys in India is put at $1 billion. But 60% of this demand is met through imports, largely from China. With this cluster, we aim to bridge this supply gap making India the hub for toy manufacturing worldwide.
The cluster will generate over 25,000 direct jobs, in addition to the 100,000 lakh indirect jobs, over a decade. The cluster is poised to facilitate transformation in the region across areas of transport, health, hospitality, education, housing, among others. The cluster will also allow an SEZ for exports, apart from a Domestic Tariff Area, to tap the Indian market – an ideal mix for local manufacturers and overseas participants to make their presence felt in both the markets.
Coinciding with this momentous occasion six strategic MOUs, were signed with potential occupants of the cluster totalling a revenue potential of over $450 million over the next five years.
With the cluster expected to be operational by the end of the year, discussions are being held with several marquee toy manufacturers and supplier brands to be a part of our toy ecosystem in Koppal.
The cluster will follow the growth trajectory like Aequs’ Aerospace SEZ in Belagavi in creating jobs, opportunities, global supply chain solutions and changing the economic landscape of Koppal. The vision for the Koppal cluster and success of the aerospace SEZ in Belagavi in the past decade only goes ahead to prove Aequs manufacturing prowess, and capabilities identify and truly bring alive India’s potential to cater globally with the utmost commitment to innovation, timely delivery, and quality.