The companies have acquired land along the Yamuna Expressway (File)
Over a hundred companies have acquired land along the Yamuna Expressway to set up factories with an investment of Rs 410.13 crore at the "Toy Park" near Noida, officials said.
According to the local Yamuna Expressway Industrial Development Authority (YEIDA) officials, the toy factories will provide jobs to an estimated 6,157 people.
Prime Minister Narendra Modi had called for increasing the country's share in the global toy business last year, they said, adding, Uttar Pradesh Chief Minister Yogi Adityanath had decided to construct a "Toy Park" near Noida and 100 acres of land was earmarked in Sector 33 of the YEIDA area to promote the industry.
The state government had invited industrialists to invest in the park and many big players in the toy business came forward to set up their units.
"Altogether 134 companies have so far been allotted land for setting up their factories in 53.51 acres at the Toy Park and construction of their units is likely to begin soon," Nodal officer, YEIDA Investment Cell, Shailendra Bhatia told news agency PTI.
Major national companies that have acquired land at the park include 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, he said.
Mr Bhatia said 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 the 4,000 micro, small and medium enterprises in the toy manufacturing business, 90% are in the unorganised sector. Therefore, Chief Minister Yogi Adityanath has taken this initiative to promote the industry," he said.
According to officials, the "Toy Park" near Noida seeks to reduce the cost of manufacturing Indian toys while guaranteeing quality.
The government is relying on the use of state-of-the-art technology by manufacturers to produce high-quality, more durable, and cheaper than Chinese toys, they said.
(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)