Recent data shared by the commerce and industry minister shows a sudden boom in the toy industry. The imports of toys have declined by 70 per cent while the exports have increased by 62 per cent, signifying the independence of this industry from the Chinese market.
Toy manufacturers say that the government’s push toward local production and the Prime Minister’s encouragement of the sector has significantly helped the industry grow.
“The government has taken a good decision to halt Chinese products. We had seen the phase of the market where we were just a few local manufacturers, and it was wholly Chinese-dominated. But now, the competition within local manufacturers has increased and, apart from Delhi, even states like Gujarat and southern India are also taking the lead,” Anubhav Jain of United Agencies Distributors LLP, which manufactures plastic toys, said.
According to the government statement, for HS codes 9503 (tricycles, scooters, pedal cars), 9504 (video game consoles and machines), and 9505 (festival, carnival, or other entertainment articles), the import of toys to India has reduced from USD 371 million in the financial year 2018-19 to USD 110 million in FY 2021-22, thus showing a decrease of 70.35 per cent.
Prime Minister Narendra Modi’s monthly radio programme ‘Mann ki baat’ also contributed to promoting local toys.