The India Times has reported that the Indian toy market is estimated to grow 157 per cent between 2009 and 2014, with licensed toys driving spending.
This is more than Taiwan at 35 per cent, South Korea at 33 per cent and even China, which is estimated to grow 84 per cent over the same period.
As it stands, the toy industry in India is worth around 17,000,000,000 Rupees, or £225 million.
On average, Indian parents spend between 250 to 300 Rupees on a toy, which is about £4. However, this figure is expected to increase as more ‘high-end’ toys and games enter the market.
Mattel, the biggest toy firm operating in India, turned over around £40 million in the last financial year.