(MENAFN- KNN India)
Toy exports from India touch Rs 1,017 cr in Apr-Dec FY23 New Delhi, Feb 13 (KNN)
The Made in India toys continue to tap global markets as India's toy exports touched Rs 1,017 crore during April-December period of this fiscal, according to a government data.
'Made in India' toys continue to tap global markets! India's toy exports rose to more than 6 times in April-December 2022 as compared to the same period in 2013,' Union Commerce and Industry Minister Piyush Goyal said in a tweet on Saturday.
In 2021-22, the exports stood at Rs 2,601 crore, whereas in 2013-14 (April-December) they were Rs 167 crore.
In the recent times, the Indian government is taking steps to promote domestic manufacturing and exports of toys and reduce imports from countries like China.
As per reports, the overall import of toys in India reduced by 70 per cent to Rs 870 crore in 2021-22.
With the aim to reduce imports, centre in February 2020 had raised the customs duty on toys from 20 per cent to 60 per cent. In 2022, it raised it to 70 per cent.
The government is also considering rolling out a fiscal incentive PLI Scheme for toys.
(KNN Bureau)
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