In view of the country’s rapid urbanisation, the Rs 12,000-crore children, baby and maternity (CBM) products industry is set to grow at 15-20 per cent per annum over the next few years, industry experts said.
“The organised children, baby and maternity products industry is estimated at Rs 12,000 crore and has potential to grow at an 15-20 per cent per annum in the coming years, looking at the rapid growth of urban and semi urban areas, showing fast growth potential,” CEO, Artsana India, Rajesh Vohra was quoted by PTI as saying.
According to a PTI report: Speaking on the sidelines of Children, Baby Maternity Expo India 2017, Vohra said the Government needs to frame regulations for baby food products and give level playing field to local manufacturers.
In view of the country’s rapid urbanisation, the CBM industry is expected to see exponential growth, creating a need for premium baby and maternity products. This growth would be mostly driven by the middle-class, he added.
The three-day expo, which opened on Tuesday, has brought together more than 100 exhibitors and over 350 major Indian and global brands.
The event is being supported by associations such as the Toy Association of India (TAI), the All India Association of Industries (AIAI), the Apparel Export Promotion Council (AEPC) and the Indian Importers Chamber of Commerce and Industry (IICCI).
Participation from nine countries – China, Australia, Vietnam, Thailand, US, UK, Canada, Singapore and Italy – is enabling Indian manufacturers get insights into the latest trends and technology, according to industry observers.