PM Modi asks to focus on ‘toyconomy’

Prime Minister, Narendra Modi, interacted with participants of Toycathon-2021 through video conferencing.

Key Points

• Union Ministers Piyush Goyal and Sanjay Dhotre were also present in conference.
• Participants also discussed their games with PM Modi where, PM suggested more ideas to developers to include it in their games.

What is Toyconomy?

During the meeting, PM Modi highlighted the importance of toys and game industry in Indian Economy. Toy and Game Industry was termed as ‘Toyconomy’ by him. As per PM Modi, global toy market is about 100 billion dollars out of which India contributes only 1.5 billion dollars. India imports 80% of its toys from foreign countries. Thus, PM highlighted the capacity of this sector in bringing progress & growth to neediest segments of society.

Online gaming in India

PM Modi also asked to explore possibilities across virtual, digital & online gaming in India because cheap data & growth of Internet have led to rural connectivity. He asked to bring about new models of innovation and financing to make Indian toys competitive across the world.

Games on India’s freedom struggle

75th anniversary of India’s Independence will bring huge opportunity for innovators and creators of toy industry. Many incidents, stories of our freedom fighters and their leadership can be used in gaming concepts. Innovators can play a big role in connecting ‘folk with the future’. PM Modi underlined the need of creating interesting & interactive games which can ‘engage, entertain and educate’.

Month: Current Affairs - June, 2021