Namasthe World Signs Rs 36.24 Crore MoU With Andhra Pradesh
The Hyderabad toy startup of Bhuma Mounika Manchu and Manchu Manoj plans apparel, handloom and toy centres in Kurnool and Visakhapatnam.
Key Takeaways
- Namasthe World signed a Rs 36.24 crore MoU with the Andhra Pradesh government.
- It plans apparel, handloom and toy manufacturing centres in Kurnool and Visakhapatnam.
- The centres are expected to create about 950 direct and 100 indirect jobs.
- The MoU was signed at the 31st CII Partnership Summit in Visakhapatnam.
- Namasthe World has sold over 43,000 BIS-certified toys since launching in January 2023.
Table of Contents 6 sections
Namasthe World, the Hyderabad-based storytelling and toy startup co-founded by Bhuma Mounika Manchu and actor Manchu Manoj, has signed a memorandum of understanding (MoU) with the Andhra Pradesh government with a proposed investment of Rs 36.24 crore. The MoU was signed at the 31st CII Partnership Summit in Visakhapatnam on Thursday, November 12, 2026.
Under the MoU, Namasthe World plans to set up sustainable apparel, handloom and toy manufacturing centres in Kurnool and Visakhapatnam. The two facilities are expected to create about 950 direct jobs and 100 indirect jobs in supply chains, logistics and ancillary services, or 1,050 jobs in all.
Namasthe World's Andhra Pradesh MoU at a glance
| Detail | Value |
|---|---|
| Company | Namasthe World (Namasthe Toys Private Limited) |
| Based in | Hyderabad |
| Founders | Bhuma Mounika Manchu (Founder and CEO), Manchu Manoj (Co-Founder and Chief Innovation Officer) |
| Agreement | Handlooms and textiles MoU with the Government of Andhra Pradesh |
| Proposed investment | Rs 36.24 crore |
| Locations | Kurnool and Visakhapatnam |
| Facilities | Sustainable apparel, handloom and toy manufacturing centres |
| Expected jobs | About 950 direct and 100 indirect, 1,050 in all |
| Where it was signed | 31st CII Partnership Summit, Visakhapatnam |
How Namasthe World plans to turn weavers' fabric into toys
The company has designed the project so that nothing a weaver makes goes to waste. Handloom fabric will be made into garments, and the surplus material will be used to make dolls and soft toys.
Namasthe World makes toys, characters and products for children built around Indian art, craft and culture. It launched in January 2023 as a made-in-India toy brand with plush toys, wooden toys and puzzles, and signed Hamleys and Rowan's as its distribution partners at launch. Since then, it has developed more than 55 original plush designs and sold over 43,000 BIS-certified toys.
| When | What happened |
|---|---|
| January 2023 | Namasthe World launches as a made-in-India toy brand from Hyderabad, with Hamleys and Rowan's as distribution partners |
| October 26, 2026 | Signs a three-year MoU with the Andhra Pradesh Economic Development Board (APEDB) in Tirupati on characters, short films and QR-linked experiences around Etikoppaka and Kondapalli toys |
| November 12, 2026 | Signs a Rs 36.24 crore handlooms and textiles MoU with the Andhra Pradesh government at the 31st CII Partnership Summit |
Bhuma Mounika Manchu on taking craft to global markets
"Our vision with Namasthe World is to turn India’s incredible cultural heritage and traditional craftsmanship into contemporary, globally relevant businesses."
She also said the company already sells through a retail partnership with Reliance Brands.
"We already have a retail partnership with Reliance Brands, and now we are partners with the Government of Andhra Pradesh as well."
Manchu Manoj wants AI and robotics in Etikoppaka and Kondapalli toys
"Through Namasthe World, we want to explore how creativity, technology and entertainment can support traditional industries, create new livelihoods, take India’s cultural strengths to a global audience and make ‘Made in Andhra Pradesh’ a global identity."
Manchu Manoj said the company is reaching out to leading technology companies for this work.
"We are also reaching out to leading technology companies to bring AI and robotics into Etikoppaka and Kondapalli toys."
At the summit, Namasthe World showed its toy collection to Piyush Goyal, Union Minister of Commerce and Industry, who launched the company's calendar.
Where Namasthe World stands after the Visakhapatnam MoU
The Rs 36.24 crore MoU follows the three-year agreement Namasthe World signed with the APEDB on October 26, 2026. The company has sold over 43,000 BIS-certified toys since it launched, and its planned centres in Kurnool and Visakhapatnam are expected to create 1,050 jobs in all.
More news
Frequently Asked Questions
What is Namasthe World?
Who founded Namasthe World?
What MoU did Namasthe World sign?
How much will Namasthe World invest in Andhra Pradesh?
Where will Namasthe World set up its manufacturing centres?
How many jobs will Namasthe World's project create?
When and where did Namasthe World sign the MoU?
How will Namasthe World use handloom fabric?
How many toys has Namasthe World sold?
When did Namasthe World launch?
What earlier agreement did Namasthe World sign in Andhra Pradesh?
How does Namasthe World plan to use AI and robotics?
More in Startups
Blinkit Launches Its Ambulance Service in Four Bengaluru Areas
Blinkit's ambulance service is now live in Bengaluru with four ambulances across two depots.
Delhivery to Deploy Up to 2,000 Electric Commercial Vehicles
Delhivery signed MoUs with Tata Motors, Euler Motors and Montra Electric for up to 2,000 electric vehicles.
Zetwerk Q2 Loss Widens About 43% to Rs 88.11 Crore
Zetwerk's Q2 FY27 net loss rose to Rs 88.11 crore as revenue grew 18.3% to Rs 4,599.36 crore.