DPIIT Hosts Workshop To Boost Indian Toy Manufacturing Industry
Date
6/12/2024 2:22:02 PM
(MENAFN- KNN India)
New Delhi, Jun 12 (KNN)
The Department for Promotion of industry and Internal Trade (DPIIT) organised a workshop on Wednesday aimed at enhancing India's position and capabilities within the global toy supply chain.
The event saw participation from major e-commerce platform Flipkart and representatives of the domestic toy industry.
According to a statement from the Commerce Ministry, the workshop intended to guide toy manufacturers on the intricacies of online sales channels, with the goal of facilitating growth in sales and market access for Indian toy makers.
This initiative aligns with Prime Minister Narendra Modi's vision, expressed in 2020, of establishing India as a global hub for toy manufacturing.
Since then, the government has undertaken various measures to promote the industry, including formulating a National Action Plan for Toys (NAPT) focused on toy design, utilising toys for learning, quality monitoring, and fostering indigenous toy clusters.
Official data indicates remarkable growth in the Indian toy industry between 2014-15 and 2022-23, with a 52 per cent decrease in imports and a 239 percent surge in exports during this period.
Among the government's interventions in the sector are increasing Basic Customs Duty (BCD) on toys from 20 percent to 60 percent in February 2020, and further to 70 percent in March 2023.
The Directorate General of Foreign Trade (DGFT) has mandated sample testing for each import consignment to curb the inflow of substandard toys. A Quality Control Order (QCO) for toys was issued in 2020, taking effect in 2021.
Additionally, the Bureau of Indian Standards (BIS) introduced special provisions in 2020, extended by three years, granting licenses to micro-scale units manufacturing toys without a testing facility for one year and without establishing an in-house testing facility.
To date, BIS has granted over 1,400 licenses to domestic manufacturers and more than 30 licenses to foreign manufacturers.
(KNN Bureau)
MENAFN12062024000155011030ID1108325381
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.