No proposal from toy industry for inclusion in PLI scheme: Minister Som Prakash

No proposal from toy industry for inclusion in PLI scheme: Minister Som Prakash

New Delhi, July 28 (KNN) The center has not received any proposals to include the toy industry in the Production Linked Incentives (PLI) scheme, said Union State Minister for Trade and Industry, Som Prakash, during the current parliamentary session.

Center recently provided comprehensive support to the domestic toy industry to make it more competitive in the global market.

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The government, in its effort to promote domestic toy manufacturing, increased the basic toy customs duty from 20% to 60% in early 2020.

“Some of the measures include promoting Made in India toys; design of toys based on Indian values, culture and history; using toys as a learning resource; organization of hackathons and grand challenges for the design and manufacture of toys; monitor the quality of toys; restricting imports of substandard and dangerous toys and promoting indigenous toy clusters,” the minister said in his response on Wednesday.

Recent trends show that India’s toy exports have increased by 61.38% over the past three years. It increased from USD 202 million in 2018-19 to USD 326 million in 2021-22.

However, toy imports fell 70% over the same period, from $371 million to $110 million.

The Indian toy industry previously faced fierce competition from Chinese toys. However, in recent years, imports from China have decreased significantly.

The PLI program launched by the government with the aim of making Indian manufacturers globally competitive, attracting investment, enhancing exports and integrating India into the world. (KNN Office)

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