Govt steps help boost toy exports, says DPIIT

New Delhi: Government measures such as mandatory quality control orders and increasing customs duty have helped boost exports of toys from India, but there is a need to do much more for the sector, a top official said on Wednesday.

Secretary in the Department for Promotion of Industry and Internal Trade (DPIIT) Rajesh Kumar Singh also indicated that they are diligently pursuing the proposal of extending fiscal incentives under the Production Linked Incentive (PLI) scheme for the sector. He said that the industry is wondering about one proposed major policy intervention and “let me assure you that we are still pursuing that”.

In the interim Budget in February, the Commerce and Industry Ministry recommended an outlay of Rs 3,489 crore for the PLI scheme for toys to boost domestic manufacturing in the sector. As the scheme is yet to be cleared by the Union Cabinet, the interim Budget has made a token provision of Rs 1 lakh towards the scheme for 2024-25. The scheme aims to attract investments in key sectors and cutting-edge technology; ensure efficiency, bring economies of size and scale in the manufacturing sector and make Indian companies and manufacturers globally competitive. Singh said the country’s toy exports jumped to USD 325.72 million in 2022-23 from USD 96.17 million in 2014-15 as the government provides all-around support for creating a conducive manufacturing ecosystem for the toy industry.

Imports of toys dipped by 52 per cent from USD 332.55 million in 2014-15 to USD 158.7 million in 2022-23. “The national action plan for toys and other initiatives has had a good impact, but we need to do much more,” Singh said.