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Toy sector seen as global player amid self-reliance push

Hindustan Times

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January 05, 2024

Prime Minister Narendra Modi's government's self-reliance push for the toys sector has seen India emerge as a strong contender in the global market in which it was a net importer eight years ago but has since had global retail giant Walmart developing about 100 local manufacturing points for its global sourcing.

- Rajeev Jayaswal

Toy sector seen as global player amid self-reliance push

The information was disclosed by two government officials who cited a study by the Indian Institute of Management (IIM), Lucknow. In the period between 2013-14, when Modi took over as PM, and the last financial year 2022-23, imports of toys fell by 48% to $159 million while exports jumped 293% to $326 million, according to the IIM's case study-Success Story of Made in India Toys.

The study, commissioned by the Department for Promotion of Industry and Internal Trade, was released by DPIIT secretary Rajesh Kumar Singh on Thursday.

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