Piyush Goyal unveils plan to scale toy manufacturing and exports
India is aiming to snag 5% of the world's toy market by 2032, and Commerce and Industry Minister Piyush Goyal just announced some pretty bold plans at the "Team Up for Toys: Driving SCALE, Innovation and Exports" stakeholder meet.
The focus is on ramping up local manufacturing, fixing supply chain hiccups, connecting Indian makers to global markets, and sparking innovation, basically making sure Indian toys get noticed worldwide.
Piyush Goyal launches toy sector playbook
Goyal also launched the Toy Sector Playbook, a guide packed with tips for manufacturers, startups, MSMEs, investors, and entrepreneurs.
It covers everything from how to build manufacturing ecosystems to protecting ideas with intellectual property rights and finding new export opportunities.
Plus, India's toy exports have jumped by 152% from FY18 to FY26 (rising from $152.7 million in FY18 to $384.7 million in FY26), imports of traditional and educational toys are down by 66%, and now there's even a trade surplus, all signs that Indian toys are leveling up fast.