Karnataka Chief Minister B.S. Yediyurappa said on Sunday that the toys cluster in Koppala, about 351 kilometers from Bengaluru, has the potential to create 40,000 jobs and attract more than Rs 5,000 crore in investments.
" In line with PM @ Narendra Modi's vision of #VocalForLocal and promoting toy manufacturing, Koppala will have India's first toy manufacturing group. With the ecosystem to support the toy cluster in place, this SEZ of 400 acres will have a first-class infrastructure & generate 40,000 jobs in 5 years," Yediyurappa posted on Twitter.
The post comes at a time when the state government is trying to strengthen its communication with investors globally to establish a store in the southern state of India. With the center's reduced cash inflows, the impact of coronavirus induced lockdown, floods, and fledgling finances, Karnataka seeks to generate investment and jobs to ease the crisis in the calamity-prone state.
The state has also amended industrial, land, and labor to facilitate the study of industries in Karnataka for their investments.
The proposed park in Kupala is an attempt to provide some job opportunities in an area that is one of the most underdeveloped in the country.
Karnataka is India's third-largest toy market at around $ 159 million, or 9.1% of the national market, according to government estimates. The state's toy industry has grown at a rate of 18% from 2010 to 2017 and is expected to reach $ 310 million by 2023.
Also Read: Huawei ends 9-year-old sponsorship deal with the Australian rugby team