The government has launched Production Linked Incentive Schemes (PLIs) in 14 sectors which will make Indian manufacturers globally competitive, attract investment, boost exports, integrate India into the global supply chain and reduce dependence on imports.
The government has provided comprehensive support to the domestic toy industry to make it more competitive.
“Some of the measures include promoting toys made in India; designing toys based on Indian values, culture and history; using toys as a learning resource; organizing hackathons and grand challenges for the design and manufacture of toys; monitoring the quality of toys; restricting imports of substandard and dangerous toys and promoting indigenous toy groups,” the minister said in his response on Wednesday.
To promote domestic toy manufacturing, the basic toy tariff was increased from 20% to 60% at the beginning of 2020.
Notably, 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.
The import of toys, however, fell by 70 percent over the same period, from $371 million to $110 million, the minister said.
The Indian toy industry previously faced fierce competition from Chinese toys. However, in recent years, imports from China have decreased significantly.
Imports of toys and other game and sporting goods from China jumped from $491.67 million to $252.1 million over the past five years, the data showed.