Govt may announce formulation of policy for toys sector in Budget 2021
3 years, 11 months ago

Govt may announce formulation of policy for toys sector in Budget 2021

India TV News  

The government may in the Budget next week announce the formulation of a dedicated policy for the toys sector to boost domestic manufacturing, sources said. It has come out with a quality control order for the sector and had also increased import duty last year on toys. A source said that the country has a low share in the international toys industry and India's exports account for less than 0.5 per cent of global demand, so there are immense opportunities in this segment. Prime Minister Narendra Modi had said that India has the talent and ability to become a toy hub for the entire world and called upon startups to work towards realising this potential while being "vocal about local toys".

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History of this topic

Budget Watch: From toys to footwear, new PLI schemes knocking on the door
5 months, 4 weeks ago

Budget Watch: From toys to footwear, new PLI schemes knocking on the door

Business Standard  

During pre-Budget discussions with Finance Minister Nirmala Sitharaman, industry groups called for the introduction of new schemes | Photo: Shutterstock.com The upcoming Union Budget is likely to introduce production-linked incentive schemes for additional categories such as toys, footwear, textiles, and millet-based foods, responding to demands from the industry and several government departments. In the Interim Budget in February, the Department …

India's Toy Import Curbs Yield Success, Exports Stagnate
7 months, 1 week ago

India's Toy Import Curbs Yield Success, Exports Stagnate

Deccan Chronicle  

Chennai: The government measures to curb the inflow of substandard products have successfully reduced toy imports. India's toy imports decreased drastically from $304.1 million in FY2019 to US$ 64.9 million in FY2024. Further, the share of imports from China dropped from 87 per cent of India's total toy imports in FY2019 to 64 per cent in FY2024. While the curbs …

The truth about India’s booming toy exports
11 months ago

The truth about India’s booming toy exports

The Hindu  

India’s toy industry is minuscule. Between 2014-15 and 2022-23, toy exports increased by 239% and imports declined by 52%, turning India into a net exporter, as reported in a recent official press release. An unpublished case study by the Indian Institute of Management Lucknow, The table shows net exports of toys under HS code 9503 and total toys respectively. During …

Walmart mulling over to export toys, shoes, bicycles from India
1 year, 7 months ago

Walmart mulling over to export toys, shoes, bicycles from India

Live Mint  

In its bid to boost exports from India, Walmart will source toys, shoes, and bicycles from Indian suppliers. The senior company official added that the US-based retail giant is looking to expand its supplies from India and explore categories like food, pharmaceuticals, consumables, health and wellness, and apparel and home textiles. "Walmart's growth in sourcing from India includes expanding working …

Budget 2023 Expectations: These Sectors Likely To Get PLI Scheme Benefits
1 year, 11 months ago

Budget 2023 Expectations: These Sectors Likely To Get PLI Scheme Benefits

News 18  

Budget 2023: The government is likely to extend fiscal incentives for the production of toys, bicycles and leather and footwear in the forthcoming budget as it looks to expand production linked incentive scheme to cover more high-employment potential sectors. A proposal to extend PLI scheme benefits to different sectors such as toys and leather is at advanced stages of finalisation …

Budget 2023: How to accelerate growth of Indian manufacturing sector
1 year, 11 months ago

Budget 2023: How to accelerate growth of Indian manufacturing sector

India TV News  

Budget 2023: In recent years, the government has implemented a number of supply-side policies to boost manufacturing, and thus investment and Economic growth. According to the experts, the union budget for 2023-24 may benefit the sector significantly as the government intends to provide a significant boost to manufacturing while focusing on increasing private investment and exports.“The Indian manufacturing sector anticipates …

Union Budget 2023: Govt likely to announce PLI scheme for more sectors to cover high-employment fields
1 year, 11 months ago

Union Budget 2023: Govt likely to announce PLI scheme for more sectors to cover high-employment fields

India TV News  

Budget 2023: In an attempt to expand Production Linked Incentive scheme to cover more high-employment potential sectors, the Union government is likely to extend fiscal incentives for the production of toys, bicycles and leather and footwear in the forthcoming budget. A proposal to extend PLI scheme benefits to different sectors such as toys and leather are at advanced stages of …

Data | India’s toy exports surge but still 200 times smaller than China’s
1 year, 11 months ago

Data | India’s toy exports surge but still 200 times smaller than China’s

The Hindu  

Amid the COVID-19 pandemic in August 2020, Prime Minister Narendra Modi exhorted that India can become a global toy hub. In July 2022, he announced that India’s exports of toys surged from ₹300-400 crore to ₹2,600 crore, a boost that “no one could have imagined.” Beyond an increase in exports, Mr. Modi also said that imports of toys, which used …

India’s toy exports up at USD 326.63 million in FY22: Centre
2 years ago

India’s toy exports up at USD 326.63 million in FY22: Centre

Firstpost  

Union Minister Bhanu Pratap Singh Verma noted that the central government has taken several steps to restrict import of sub-standard and unsafe toys and to promote domestic toy industry New Delhi: India exported toys worth USD 326.63 million in financial year 2021-22, up from USD 96.17 million in 2014-15, while the import of toys to India has decreased from USD …

India will spend ₹3,500 crore on toys to outplay China
2 years ago

India will spend ₹3,500 crore on toys to outplay China

Live Mint  

The Union government is planning a ₹3,500 crore production-linked incentive scheme for toys that comply with Bureau of Indian Standards norms, an official said. Following this, several steps were taken, including issuing a quality control order and imposing higher customs duty on toys to prevent unsafe toys from entering the country. A number of industries are seeking PLI schemes, but …

Toy industry stakeholders request Tamil Nadu government to support the sector
2 years, 2 months ago

Toy industry stakeholders request Tamil Nadu government to support the sector

The Hindu  

The toy industry in Tamil Nadu is growing, and the government should consider coming up with a policy for this particular sector, said Santosh Kumar, president, The Tamilnadu Toy Dealers’ Association. According to data provided by Mr. Santosh, the toy market in Tamil Nadu is worth around ₹600 crore to ₹700 crore and is growing year after year. Government policies …

Indian toy manufacturers bolster production as demand rises; eye global markets
2 years, 4 months ago

Indian toy manufacturers bolster production as demand rises; eye global markets

Live Mint  

Favourable government policies have boosted domestic manufacturing and helped the industry to explore global markets and enhance exports. Increasing customs duties on imported toys and mandating Bureau of Indian Standards certification requirements for imports have given the necessary push to the Indian toy industry. Toy Association Of India president, Ajay Agarwal stated, the Indian toy industry is growing as the …

Indian toy manufacturers scale up amid rise in demand; eyes global markets
2 years, 4 months ago

Indian toy manufacturers scale up amid rise in demand; eyes global markets

Firstpost  

New Delhi: Government policies such as increasing customs duties on imported toys and mandating BIS certification requirements for imports not only boosted domestic manufacturing but also helped the industry to explore global markets and enhance exports. The Indian toy industry is growing as the government has mandated the domestic players to have BIS certification for import and also increased customs …

India's toy industry achieved success no one could have imagined: PM Modi
2 years, 4 months ago

India's toy industry achieved success no one could have imagined: PM Modi

The Hindu  

Prime Minister Narendra Modi on July 30 lauded the Indian toy industry for achieving the success "no one could have imagined", noting that its export has soared to ₹2,600 crore from ₹300-400 crore. The prime minister said India's toy sector has proven its mettle by transforming itself, with manufacturers now making toys based on Indian mythology, history and culture. Noting …

Toy Story: Manufacturers Say Halt on Chinese Products, Govt Push Made Industry Major Player
2 years, 5 months ago

Toy Story: Manufacturers Say Halt on Chinese Products, Govt Push Made Industry Major Player

News 18  

In a significant boost to local manufacturing in India, the imports of toys have declined by 70 per cent while exports have increased 61 per cent over the last three years, data shared by the commerce and industry ministry stated. PM’s push Prime Minister Narendra Modi has also given a boost to the toy manufacturing sector by highlighting the industry …

PM Modi Asks People to Be Vocal for Local Toys
3 years, 6 months ago

PM Modi Asks People to Be Vocal for Local Toys

News 18  

Calling on people to be “vocal for local toys”, Prime Minister Narendra Modi on Thursday said about 80 per cent of the toys were being imported by India with crores of rupees going abroad and asserted that it was very important to change this situation. Modi also said India’s share is only about 1.5 billion dollars in the global toy …

PM Modi asks people to be vocal for local toys
3 years, 6 months ago

PM Modi asks people to be vocal for local toys

India TV News  

Calling on people to be "vocal for local toys", Prime Minister Narendra Modi on Thursday said about 80 per cent of the toys were being imported by India with crores of rupees going abroad and asserted that it was very important to change this situation. Modi also said India's share is only about 1.5 billion dollars in the global toy …

A look at the Indian toy industry as the National Toy Fair is set to begin next month
3 years, 10 months ago

A look at the Indian toy industry as the National Toy Fair is set to begin next month

The Hindu  

Paramapadam, aadu puli aatam, solah seedi, ashta chemma, pallankuzhi.do these sound familiar? National Toy Fair This emphasis on tradition seems to be the foundation for Toycathon 2021, a Government initiative to create innovative toys and game concepts. Calling this “a very big opportunity,” Sharad Kapoor, general secretary of the Toy Association of India, says, “It is a ray of hope …

Union Budget 2021 | Govt may announce formulation of policy for toys sector
3 years, 11 months ago

Union Budget 2021 | Govt may announce formulation of policy for toys sector

The Hindu  

The government may in the Budget next week announce formulation of a dedicated policy for the toys sector to boost domestic manufacturing, sources said. It has came out with a quality control order for the sector and had also increased import duty last year on toys. A source said that the country has low share in the international toys industry …

Opinion | India’s leap towards becoming a global toy hub
3 years, 11 months ago

Opinion | India’s leap towards becoming a global toy hub

Live Mint  

NEW DELHI: As India recovers from the covid-19 crisis, taking steps towards a new dawn, a host of envisioned and implemented reform measures taken during the pandemic could see tangible advances on ground in 2021. One among them is India’s vision of becoming a global toy hub to cater to domestic demand and tap the market that is estimated at …

Behavioural interventions for an Atmanirbhar toy industry
4 years, 4 months ago

Behavioural interventions for an Atmanirbhar toy industry

Live Mint  

The growth of India’s toy industry has been jeopardized for more than a decade by a deluge of Chinese imports. However, high import prices may not shift demand towards local toys unless a re-orientation of preferences of Indian consumers habituated to Chinese toys takes place. The government may embed this message in the branding of Made-in-India toys and popularize dedicated …

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