TOY EXPORTS SURGED 239%, IMPORTS DECLINED 52% IN FY15-23, SAYS IIM STUDY

The Indian Toy indus239 per cent rise in exports and 52 per cent decline in imports in financial year 2022-23 over FY 2014-15, buoyed by Government efforts to boost the sector.

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 Policy enablers led to doubling of manufacturing units, reduction in imported inputs from 33 percent to 12 percent and increase in gross sales value by a CAGR of 10 percent.

The strong growth of the industry emerging from a case study on success story of "Made in India toys" conducted by the Indian Institute of Management (IIM) Lucknow at the behest of Department for Promotion of Industry and Internal Trade (DPIIT) is credited to the creation of a more conducive manufacturing ecosystem for the toy industry through a series of measures which, in a span of 6 years, from 2014 to 2020, helped in the development of overall quality of the toys available in the domestic market.