Prime Minister Narendra Modi interacted with participants of Toycathon-2021 today via video conferencing.

Speaking on the occasion, the Prime Minister said that in the last 5-6 years, the youth of the nation has been connected with the key challenges of the country through the platform of Hackathons. Thinking behind this is to organize the capabilities of the country and to give them a medium, he said.

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Apart from the importance of toys as the first friend of the children, the Prime Minister also emphasized the economic aspects of toys and gaming, he called it ‘Toyconomy’. The Prime Minister said that the global toy market is about 100 billion dollars and India has only 1.5 per cent of this market.

India imports almost 80 per cent of its toys. This means that crores of rupees are being drained out of the country. This needs to change, said the Prime Minister. Modi underlined that, beyond numbers, this sector has the capacity to bring progress and growth to the neediest segments of society. The toy industry has its own small-scale industry, artisans comprising of the rural population, Dalits, poor people and tribal population.

The Prime Minister singled out the contribution of women in the sector. In order to take the benefits to these segments, we need to be vocal for local toys. The PM called for new models of innovation and financing to make Indian toys competitive at the global level. There is a need for new ideas to be incubated, new start-ups promoted, taking new technology to traditional toymakers and creating new market demand. This is the inspiration behind events like Toyacathon, the Prime Minister said.

The Prime Minister mentioned that the 75th anniversary of India’s Independence is a huge opportunity for the innovators and creators of the toy industry.  Many incidents, stories of our freedom fighters and their valour and leadership can be created into gaming concepts. These innovators have a big role in connecting ‘folk with the future’. There is a need to create interesting and interactive games that ‘engage, entertain and educate’, said the Prime Minister.