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Small & Medium-sized Industry In India

Toys Have Been Recognized As One Of The Champion Sectors With Significant Export Potential. The Indian Toy Industry Is Among The Fastest-growing Globally, Projected To Reach $3 Billion By 2028, Growing At A CAGR Of 12% Between 2022-28, According To A Report By The Government Agency 'Invest India'. The Government Of India Is Planning To Provide Comprehensive Support To Promote 'Vocal For Local' In Toys Through The National Action Plan For Toys (NAPT) By Bringing Together 20+ Ministries/ Departments. Remarkable 239% Increase In Indian Toy Exports In FY 2022-23 In Comparison To FY 2014-15. The Indian Toy Industry Is Expanding Its Global Presence, With Increased High-value Exports To Middle East And African Countries. The Import Duty On Toys Was Increased From 60% To 70% In Budget 2023. The Toys Quality Control Order (QCO) Was Implemented In 2021 To Enhance Standardization In Toy Production And Import, Ensuring Product Safety. The Domestic Market Size Currently Stands At An Estimated Value Of $ 1.5 Billion. Labor-intensive Toy Categories Like Dolls, Soft Toys, Plastic House Decorations, And Board Games Offer Significant Manufacturing Potential In India Due To Inherent Cost Competitiveness And Growing Demand. This Photo Was Taken At Tehatta, West Bengal, India On 09/01/2024. (Photo by Soumyabrata Roy/NurPhoto)

Photo Details

Photo ID	#10902822
Date Taken	9 January 2024
Location	N/A
Photographer	Soumyabrata Roy/NurPhoto
Category	Human Interest
Copyright	© 2026 NurPhoto - Soumyabrata Roy/NurPhoto

Related Keywords

NurPhoto General news India Wildlife Industry Economy Business and Finance toys export potential Indian toy industry $3 billion by 2028 CAGR of 12% Invest India Government of India Vocal for Local National Action Plan for Toys NAPT ministries departments toy exports FY 2022-23 FY 2014-15 global presence high-value exports Middle East African countries import duty Budget 2023 Toys Quality Control Order QCO standardization toy production product safety domestic market $1.5 billion labor-intensive dolls soft toys plastic house decorations board games manufacturing potential cost competitiveness growing demand Tehatta West Bengal India Soumyabrata Roy NurPhoto.

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