E-Paper
Yamuna authority’s 1,000cr Toy Park scheme on 100 acres opens July 23
The Yamuna Expressway Industrial Development Authority (Yeida) has expedited work on ‘Toy Park’ to be developed on 100 acres in Sector 33, along the 165km Yamuna
The Yamuna Expressway Industrial Development Authority (Yeida) has expedited work on ‘Toy Park’ to be developed on 100 acres in Sector 33, along the 165km Yamuna Expressway that connects Greater Noida with Agra. Interested parties can set up units in the park to develop all sorts of toys, and the ₹1,000 crore park has the potential to end the current monopoly of China in the toys market, Yeida officials said.
Yeida, which is also developing Noida international greenfield airport in Jewar, will open the scheme on Thursday (July 23) inviting applications from interested parties.
“We are launching the open-ended Toy Park project on July 23 onwards. The scheme will remain open for 15 days and interested parties can apply to get the land to set up units to manufacture toys. This project has the potential to end our country’s dependency on Chinese products as the manufacturing units in the park will be able to deliver the market requirements,” Arun Vir Singh, chief executive officer, Yeida, said .
The interested parties can apply for plots under this new scheme on the portal -- https://niveshmitra.up.nic.in/.
In 2013, the authority had carved out sectors 32 and 33 from agricultural land near Muradgarhi, Bhaipura and Birampur villages. The same year, Yeida started developing these sectors as an industrial hub and allotting the land to industries.
The Yeida, in 2010, decided to develop a Toy Park in this area along the expressway but the project was never shelved. The authority has now revived the project as at least 70 toy manufactures have shown interest in setting up units, officials said.
“We have got an expression of interest from 70 applicants who are seeking different plot sizes ranging from 1,000 square metres to 10,000 square metres. We have finalised the park layout in Sector 33 and got approval from our chairman to float the scheme 100 acres. All allotment will be done immediately,” Singh said.
The rates for plots will range from ₹4,000-6,700 per square metre, depending upon the size of plots, with bigger plots costing less.
“The Union government has increased import duty on toys and also put in Bureau of Indian Standards (BIS) provisions for importing toys, thus creating a level playing field for domestic manufacturers,” Singh said.
The Toy Association of India said this project will make India self-reliant in the segment.
“Toy products business has an annual revenue of ₹12,000 crore in our country and a majority of the supply comes from China, owing to their cheaper rates. But Toy Park products can change the market. This project will help the consumer get the best quality products at reasonable rates,” NK Gupta, convener of Toy Association of India, said.
