The government has announced the establishment of a task force aimed at supporting the toy sector and achieving a 5% share in the global toy market by 2032. Commerce Minister Piyush Goyal revealed that the task force will focus on objectives such as integrating with global value chains, enhancing manufacturing capabilities, and addressing value chain bottlenecks.
Goyal emphasized India’s progress in the toy industry as part of the country’s development journey. He highlighted the sector’s ability to blend manufacturing expertise, creativity, innovation, and cultural heritage, leading to Indian toys gaining popularity worldwide. The minister urged industry stakeholders to collaborate in creating a robust domestic manufacturing ecosystem with advanced technologies and quality standards.
Furthermore, Goyal praised government initiatives like quality regulation through BIS certification and support for MSMEs and startups. He encouraged the industry to prioritize innovation, design excellence, sustainability, and exports to establish globally recognized Indian toy brands. The goal is to position India as a key center for toy design, manufacturing, and exports.
