The business of the fast growing toy industry in the country (File Photo-PTI)
Toy Association of India General Secretary Sharad Kapoor praised the government and said, PM Modi has played an important role in increasing the toy industry in the country. He has encouraged domestic production by encouraging the manufacturing industry. Earlier, up to 90 percent of China’s toys were consumed in the country. But now most of the toys are made in the country.
Central Government’s ‘Make in India’ (Make In India) of the country from the campaign toy industry ,Toy Industry) has got a big lead. The export of toys made in the country has increased as compared to earlier. The companies and industry associations engaged in the toy industry have praised the government for this growth. It is seen that due to the decrease in the import of toys, this industry has got an opportunity to flourish in the country. Now the import of toys has decreased and there has been a big increase in exports. Earlier toys were imported on a large scale from countries like China. Now the situation is reversed and there is a boom in exports. This has benefited both the domestic market and the domestic business. The Toy Association of India has praised the government and Prime Minister Narendra Modi for this big change and encouragement in the country.
Toy Association of India General Secretary Sharad Kapoor praised the government and said, PM Modi has played an important role in increasing the toy industry in the country. He has encouraged domestic production by encouraging the manufacturing industry. Earlier, up to 90 percent of China’s toys were consumed in the country. But now most of the toys are made in the country. It is a matter of happiness that now the order of toys is also received from abroad.
In praise of the government, some similar things were said by Delhi’s toy maker Rajiv Batra. The central government is giving incentives to make toys in the country itself. In today’s time, more than 80 percent of the toys are being made in the country itself. We are getting a lot of help with the support of the government. The government is giving us many types of incentives, due to which the toy industry is getting an opportunity to grow.
Amid the Centre’s impetus for Make In India, domestic toy industry witnesses a sharp rise in exports as imports decline pic.twitter.com/7EJxv1c026
— ANI (@ANI) July 6, 2022
what does the figure say
In the last three years, there has been a 70 percent reduction in toy imports. Toys imports in India for HS codes 9503, 9504 and 9503 stood at $110 million during FY 2021-22 as compared to $371 million in FY 2018-19, showing a decrease of 70.35 percent. For HS Code 9503, Toy Import There has been a further sharp decrease in the amount, which has come down to $36 million during the financial year 2021-22 from $304 million in the financial year 2018-19.
Apart from this, exports have seen a jump of 61.38 percent during the same period. Toy exports for HS codes 9503, 9504 and 9503 stood at $326 million during FY 2021-22 as compared to $202 million in FY 2018-19, showing an increase of 61.39 percent. For HS code 9503, toy exports increased to $177 million during FY 2021-22 as compared to $109 million in FY 2018-19.
What did DPIIT say?
DPIIT Additional Secretary Anil Agarwal while addressing the media during the 13th edition of Toy Biz B2B (Business to Business) International Exhibition, held from 2-5 July 2022 at Pragati Maidan, New Delhi, said that in August 2020, ‘Mann Ki Baat’ In his address, the Prime Minister had appealed for the ‘rebranding of the Indian Toy Story’ and availability of the right kind of toys for children, utilization of toys to strengthen home designing and make India as a manufacturing hub for toys. Emphasis was placed on designing toys based on Indian value system, Indian history and culture as a learning resource. He said that the industry has benefited from various initiatives of the government and its results show the success of the Make in India programme. He also said that imports were mainly restricted to certain components of toys.