New Delhi: Toy exports from India reported a 239 percent growth in exports in 2022-23 as compared to 2014-15. The total exports surged to $326 million in 2022-23 from $96 million in 2014-15. Toy imports to India registered a 52 per cent decline. Imports declined to $159 million from $332 million in the same period.
A case study named ‘Success Story of Made in India Toys’ conducted by the Indian Institute of Management (IIM) Lucknow at the behest of Department for Promotion of Industry and Internal Trade (DPIIT) revealed this.
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Secretary of Department for Promotion of Industry and Internal Trade( DPIIT) Rajesh Singh said that the Indian toy industry has registered significant growth after Prime Minister Narendra Modi’s initiative and various decisions taken at the policy level. The Union government has enabled a more conducive manufacturing ecosystem for the Indian Toy industry. The report highlighted that in a span of 6 years, from 2014 to 2020, these dedicated efforts have led to the doubling of the number of manufacturing units. It helped in the reduction in dependence on imported inputs from 33 percent to 12 percent and increase in gross sales value by a CAGR of 10 percent.
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