India's Toy Exports Reach 153 Countries, Govt to Roll Out New Incentive Scheme: Piyush Goyal
New Delhi (The Uttam Hindu): Union Commerce Minister Piyush Goyal said that India's toy industry, which was once heavily dependent on imports, is now manufacturing domestically and exporting to 153 countries. Addressing the 16th 'Toy Biz International B2B Expo 2025', Union Minister Goyal said that this transformation has been possible through consistent policy support, enforcement of quality standards and strengthening local manufacturing clusters.
He said that the implementation of Quality Control Order (QCO) has helped make India a quality conscious country and enabled domestic toy manufacturers to meet global norms. The Union Minister further said that India's population of 1.4 billion provides a huge captive market, which creates a natural advantage for scaling up manufacturing. With this scale, the industry can achieve cost efficiency and become globally competitive. He said that the large domestic market not only supports expansion but also serves as the base for international growth.
He informed that the government is preparing to launch a new incentive scheme for the toy sector. The scheme aims to help Indian toy manufacturers become world-class by enhancing their design capabilities, ensuring quality manufacturing, strengthening packaging and supporting brand building. Union Minister Goyal stressed the need for the industry to focus on good branding, attractive packaging and strong product design to excel in the global market.
He said that if these three aspects are prioritised, Indian toys can gain strong appeal in international markets. He recalled that when Prime Minister Narendra Modi launched the 'Vocal for Local' initiative, many viewed it with skepticism, as foreign products dominated consumer choices. However, under the vision of 'Atmanirbhar Bharat' and the belief that local can be global, awareness and support for domestic industries has steadily increased. Union Minister Goyal said that startups developing innovative toy concepts have received significant support through the Pradhan Mantri Mudra Yojana, which has now been extended to 20 years. He said that this has ensured access to collateral-free loans for small businesses. Also, 18 toy clusters across the country have been supported by the MSME Ministry to boost domestic production.
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