India's toy exports in April - December period at Rs 1,017 crore

13 Feb 2023 , 12:08 PM

According to government data, the country’s toy exports reached Rs1,017 crore during the April-December fiscal period. In the fiscal year 2021-22, total exports stood at Rs2,601 crore.

‘India’s toy industry is a global sensation! Our exports have skyrocketed, soaring over six times higher in the months April through December of 2022 compared to the same period in 2013,’ tweets Commerce and Industry Minister Piyush Goyal, proudly showcasing India’s thriving toy market.

Shipments totaled Rs167 crore during the period April to December 2013-14.

The government is taking steps to promote domestic production and exports of toys from the country while reducing low-quality imports from countries such as China.

Toys worth Rs2,960 crore were imported into India in 2018-19. Using the ‘vocal for local’ philosophy, the government took several steps to promote indigenous toys based on Indian culture and history.

Import duties on toys were raised from 20% to 60% in February 2020, and now to 70% this year, to discourage imports.

Toy imports in India reduced by 70% to Rs870 crore in 2021-22.

 

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