India’s Toy Exports Rise to USD 326.63 million in 2021-2022

December 23, 2022

Buoyed by various measures taken by the Government to ramp up manufacturing of indigenous toys, the export of toys from India has increased nearly 240% from USD 96.17 million in 2014-15 to USD 326.63 million in 2021-22.


In a written reply in the Lok Sabha, Union Minister of State for MSME Shri Bhanu Pratap Singh Verma said that the Government has taken several measures to restrict the import of low-quality, hazardous toys and promote indigenous toys. This includes formulating a comprehensive National Action Plan for Toys to promote designing of toys based on Indian values, culture and history, using toys as a learning resource by organising hackathons and challenges for toy designing and manufacturing, promoting indigenous toy clusters, increasing basic customs duty (BCD) on toys from 20% to 60%, mandating sample testing of each import consignment to curb the import of sub-standards toys and granting 1001 licenses to domestic manufacturers and 28 licenses to foreign manufacturers for the manufacture of toys with BIS standard marks, among others.


To promote the MSME sector, including the toy industry, the Ministry of MSME has implemented various schemes for providing credit support for new enterprise creation, technology upgradation, skill development and infrastructure development.


Under the Prime Minister’s Employment Generation Programme (PMEGP), margin money assistance of up to 35% of the project cost has been allocated for units costing up to Rs 50 lakh for the manufacturing sector and Rs 20 lakh in the service sector.


Further, under the Scheme of Funds for Regeneration of Traditional Industries (SFURTI), assistance is provided for creating a Common Facility Centres with the latest machines, design centres, skill development, etc. The Government has also approved a total of 19 Toy Clusters, benefitting 11749 artisans with an outlay of Rs. 55.65 crores.

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