Noida to become toy manufacturing hub

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Lucknow, Aug 6 | Noida is all set to emerge as the manufacturing hub of toys in India with enough potential to challenge China’s booming toy industry.

A total of 134 big industrialists have acquired land at Noida’s Toy Park to set up their factories at the cost of Rs 410.13 crore.

According to thhe Yamuna Expressway Industrial Development Authority (YEIDA) spokesman, the toy factories will provide permanent jobs to 6,157 people.

It may be recalled that Prime Minister Narendra Modi had called for increasing the country’s share in the global toy business last year.

Subsequently, Uttar Pradesh Yogi Adityanath decided to construct the Toy Park in Noida and 100 acres of land was earmarked in Sector 33 of the YEIDA 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 units at the Toy Park.

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 per cent are in the unorganised sector.

According to the government spokesman, 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 per cent, India’s demand is rising by 10-15 per cent.

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.

Source: IANS

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Does MBA really help in getting a better job offer ?

Does MBA really help in getting a better job offer ?

Most students pursuing an MBA come with the sole objective of having a decent job offer or a promotion in the existing job soon after completion of the MBA. And most of them take loans to pursue this career dream. According to a recent survey by education portal Campusutra.com  74% MBA 2022-24 aspirants said they would opt for education loans.

There are exceptional cases like those seeking master’s degree or may have a family business to take care of or an entrepreneurial venture in mind. But the exception cases are barely 1%. For the rest 99%, a management degree is a ticket to a dream job through campus placements or leap towards career enhancements. Stakes are high as many of them quit their jobs which essentially means loss of 2 years of income, apprehension and uncertainty of the job market. On top of that, the pressure to pay back the education loans. Hence the returns have to be high. There is more than just the management degree. Colleges need to ensure that they offer quality management education which enables them to be prepared for not just the demands of recruiters and for a decent job but also to sustain and achieve, all along their career path.

  • So, what exactly are the B Schools doing to prepare their students for the job market and make them industry ready ?
  •  Are B schools ready to deliver and prepare the future business leaders to cope up with the disrupted market ?  

These are the two key questions every MBA aspirant needs to ask, check and validate before filling the MBA application forms of management institutes. And worth mentioning that these application forms do not come cheap. An MBA aspirant who may have shortlisted 5 B Schools to apply for, may end up spending Rs 10,000.00 to Rs 15,000.00 just buying MBA / PGDM application forms.

While internship and placements data of some management institutes clearly indicates that recruiters today have specific demands. The skill sets looked for are job centric and industry oriented. MBA schools which have adopted new models of delivery and technology, redesigned their courses, built an effective evaluation process and prepared the students to cope with the dynamic business scenario, have done great with campus placements despite the economic slow down.

However, the skill set being looked for by a consulting company like Deloitte or KPMG may be quite different from FMCG or a manufacturing sector. Institutes need to acknowledge this fact and act accordingly.

  • Management institutes should ensure that students are intellectually engaged, self motivated and adapt to changes fast. In one word ‘VUCA ready’.
  • B Schools should encourage students to participate in national and international competitive events, simulations of business scenarios.
  • Institutes should have the right mix of faculty members with industry exposure and pure academics.

The placement records of 2021 across top management institutes indicated the fact that recruitment is happening, skilled talent is in demand and certain management institutions continued to attract recruiters even in the middle of an ongoing crisis.

It is time, all management institutes rise to the occasion, understand market realities and identify areas of improvement at both ends – students and faculty.

After all, the stakes are high at both ends. B Schools taking corrective measures will stay while those which are lagging will end up shutting down.

Author Name : Nirmalya Pal

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