Foxconn of the toy world, a manufacturer of superhero figures and toy dart guns for companies in the global toy industry, is now aiming to set up India’s first toy manufacturing cluster in Karnataka.
Aequs Private Limited is developing a 400-acre toy manufacturing cluster at Koppal in Karnataka at an investment of USD 500 million, its Chairman Aravind Melligeri said.
“The toy manufacturing ecosystem will house over 100 units with a potential to generate over 25,000 direct jobs apart from 1,00,000 indirect jobs,” he said.
Aequs is a global precision manufacturing company headquartered in Aequs Special Economic Zone in Belagavi, Karnataka, India. The company specializes in precision manufacturing, forging, sheet metal fabrication, surface treatments and assembly for aerospace and allied industries. Besides India, Aequs operates several manufacturing facilities in the US and France, catering to global OEMs.
“India has the required skill sets as well as material and so we thought why not set up a toy cluster and bring them all in one place. Six marquee toy manufacturers and suppliers have already signed up for setting up factories in the toy cluster,” Aravind Melligeri added.
Arya has been a part of the Content & Research Team at Hrnxt.com. She is a keen observer of economic developments, emerging businesses, people in business and keeps a tab on latest happenings in the business environment.