Indian Toy Industry Goes Global, Exports To 153 Countries: Piyush Goyal

(MENAFN- KNN India) New Delhi, July 5 (KNN) India's toy industry, once heavily reliant on imports, now exports to 153 countries, Union Commerce and Industry Minister Piyush Goyal said at the 16th Toy Biz International B2B Expo 2025 in New Delhi.

He highlighted the role of the Quality Control Order (QCO) in turning India into a quality-conscious economy, enabling local manufacturers to meet global benchmarks.

India's vast population of 1.4 billion offers a strong domestic base, Goyal said, providing toy makers with the scale necessary to achieve cost efficiency and global competitiveness.

The domestic market, he added, serves as both a support system and a springboard for international expansion.

To further enhance India's global presence, the Minister emphasised the importance of branding, packaging, and product design.“If we focus on these three pillars,” he stated,“Indian toys can make a strong mark in international markets.”

Reflecting on the sector's revival, Goyal noted that early doubts about the Vocal for Local initiative have given way to growing confidence, driven by the broader vision of Atmanirbhar Bharat.

The increasing consumer preference for locally made products, he said, reflects a wider developmental shift within the country.

He noted that the extension of the Pradhan Mantri Mudra Yojana to 20 years has enabled easier access to collateral-free loans, while 18 toy clusters have received backing from the Ministry of MSME to boost local production capabilities.

Looking ahead, Goyal announced that the government is formulating a new promotional scheme to further elevate the toy sector.

The initiative will focus on improving design capacity, manufacturing quality, packaging, and brand development to help Indian toys compete globally.

(KNN Bureau)

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