India’s leading toy manufacturer, Funskool India Ltd., is in advanced discussions with global toy giant Mattel Inc. for a significant contract manufacturing partnership.

Funskool has been a long-time licensee for some of Mattel's key brands, including Barbie and Hot Wheels, for over 25 years. 

This new agreement would expand that relationship to a manufacturing-based contract.

If finalized, the deal would allow Funskool to produce Mattel's toys at its state-of-the-art facilities in India, reducing Mattel’s reliance on imports and strengthening the "Made in India" toy market. 

For Funskool, this partnership would represent a major boost in production volume and revenue, cementing its position as a key player in the domestic toy industry.