Veva Toys Global Unveils Major Rs 1,000 Crore Investment Plan
Homegrown toy manufacturer Veva Toys Global, based in Chennai, has announced a significant investment of Rs 1,000 crore to be deployed over the next five years. This strategic move is designed to scale production capabilities, establish a new manufacturing facility, expand component manufacturing, and strengthen research and development efforts. The investment aligns with the company's ambitious push into the export market, targeting key regions worldwide.
Diversification into Drone Manufacturing
As part of this expansion, Veva Toys is diversifying its portfolio by venturing into drone manufacturing. The company plans to produce a range of drones, including toy drones for children and professional drones for commercial applications. According to Vishal Nahar, Managing Director of Veva Toys Global, this diversification leverages the company's proven expertise in creating high-quality remote-control toys.
"This will be a phased investment," Nahar stated. "Over the next five years, we will invest up to Rs 1,000 crore as we scale our manufacturing capabilities and build a more integrated ecosystem. We are creating an ecosystem where we will manufacture our own PCBs, motors, and batteries used in toys, with the goal of reducing dependence on imports over time."
Currently, Veva Toys achieves 85% localization in its production processes, but components such as PCBs, motors, and batteries are still imported. The new investment aims to enhance self-sufficiency and boost domestic manufacturing.
Drone Launch and Export Strategy
The company is set to launch its drone products by May, with a portfolio that includes toy, hobby, and professional drones. Nahar highlighted the global market potential, noting that toy drones will have a maximum flight height of less than 100 feet to ensure safety and compliance.
"We will focus on developing different types of drones," he explained. "Our drone portfolio will comprise toy, hobby, and professional drones, which have a huge market not only in India but across the globe. We are diversifying into the drone segment because we have proven our capabilities in creating quality remote-control cars."
Launched in 2022, Veva Toys produced 25 lakh toys during the last fiscal year (2025–26). The company operates in segments such as remote-control cars, die-cast models, and battery-operated and non-battery preschool toys under brands like Popsugar, Frendo, Race N Roll, and Veva Toys. Sales are driven 60% by online and quick-commerce platforms, with the remaining 40% coming from retail outlets across India.
Expanding Global Footprint
Veva Toys is also gearing up for a major export push, with initial markets including the USA, Canada, South America, Australia, and the UAE. Nahar confirmed that the company has already secured export orders and will begin shipments in the second quarter (July–September) of the current financial year (FY27).
"We have already received export orders and will commence exports during the second quarter of FY27," he said. "Going forward, exports will account for 60% of our total production. At present, we have two facilities on the outskirts of Chennai, and another factory will be established as we double our production."
This expansion underscores Veva Toys' commitment to becoming a global player in the toy and drone industries, leveraging India's manufacturing potential and reducing reliance on imports.
