Indian toy market shows huge growth 

According to data from the Ministry of Commerce and Industry, India's toy exports have increased more than fourfold in the 9-year period, from US $36.91 million in 2013/14 to US $153.88 million in 2022/23. 

The increase in Indian toys has been shown year by year and has reached its highest level so far in the 2021/22 fiscal year at US $177.04 million.

This is despite the fact that exports of toys fell by 13 percent to US $153.88 million in the last fiscal year. 

The textile and fabric toy segment is also showing growth as numerous companies are expanding here. 

To encourage this growth, the government has taken a variety of measures in recent years. Among other things, import duties on toys have been reduced to 70 percent in order to push local production. 

In addition, the number of toy fairs and exhibitions has been increased, allowing companies to use a platform for marketing and customer acquisition more frequently. 

According to estimates from various market research reports, the Indian toy industry is expected to grow to $3 billion by 2028, despite fierce competition with China. 

Source: www.apparelresources.com