Indian Toy Industry Surges As Exports Outpace Imports

Over the past decade, the Indian toy industry has surged, with toy exports reaching $523.24 million and surpassing imports of $517.71 million. Government initiatives have played a crucial role in this growth, supporting the sector with various measures.

Previously, ‘Made in China’ toys dominated the Indian market, but industry data reveals a significant shift. In the 2011-12 financial year, India imported toys worth $422.79 million while exporting less than half that amount. Today, Indian toys have expanded to over 100 countries, including major markets such as the US, the UK, Germany, the Netherlands, Denmark, and China.

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Looking forward, the Indian toy industry aims to boost its global presence through strategic use of online platforms. Government officials, including representatives from the Department for Promotion of Industry and Internal Trade (DPIIT), emphasize that increased exports, enhanced manufacturing capabilities, and reduced import dependence highlight the sector’s success.

The Indian government has actively supported the toy industry, designating it as a “champion sector” and aiming to build a strong global market for ‘Made in India’ toys. Key initiatives, such as enforcing quality standards, raising customs duties, and implementing the National Action Plan on Toys (NAPT), have been instrumental in developing high-quality products that have garnered international acclaim.

From 2014-15 to 2022-23, Indian exports of toys, games, and sports articles soared by 239%, while imports fell by 52%, according to industry estimates. With the current market size at $1.7 billion, the Indian toy industry is on track to reach $4 billion by 2032, driven by a 10.5% annual growth rate.

Domestic toy exporters report growing interest from buyers in the US, the UK, South Africa, and Germany, showcasing the rising global appeal of Indian-made toys.