Leading toy maker Funskool India has decided to set up a new production facility in Tamil Nadu, as it aims to increase share of exports to 50 per cent by 2021-22.
The facility is expected to be operational by the end of this fiscal. Once it is opened, the company, which exports to the UK, Europe, Australia and the US, is looking at tapping more countries.
Funskool India CEO K John Baby was quoted as saying by PTI: “At present, exports account for 20 per cent of our sales but we are aiming to increase that to 50 per cent by 2021-22.”
He added: “This new plant built with capex of Rs 25 crore will specifically cater to the export market. We are looking at new markets such as the Gulf region, covering whole of the US and Africa.”
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