Make in India impact-India's toys export increases by 61% while import declines by 70%
In a big development for India's domestic toy market,
toy imports have declined 70% while Exports have increased 61 % over the last three years,
As per the data by the commerce and industry ministry.
As per the ministry, Import of toys has reduced from USD 371 million in 2018-19 to USD 110 million in 2021-22 ,
While export has increased from USD 202 million in 2018-19 to USD 326 million in 2021-22.
Notably, imposition of curbs on Chinese good and components through import duty is said to be reason for this as China was the largest exporter of toys to India