Indian Economy News

Toy imports decline in 3 years as India registers 8k MSMEs for manufacturing

  • IBEF
  • December 23, 2021

India has 8,366-registered Micro, Small & Medium Enterprises (MSME) for toy production and the total toy imports into the Indian market have decreased in the previous three years.

This comes after Prime Minister Narendra Modi talked about manufacturing 'toys for the world' during his monthly 'Mann ki Baat' radio program, emphasising India's capacity to become a 'toy hub.' Despite the fact that the global toy business is worth over US$ 7 trillion (US$ 92.79 billion) and India's share is small.

“As per data available under Udyog Aadhaar Memorandum, there are 8366 registered MSMEs in India under the National Industrial Classification Code 2008 (NIC 2008) for toy manufacturing (codes number 32401, 32402, 32403, 32404,32405,32409)," this information was given by the Minister of State in the Ministry of Commerce and Industry, Mr. Som Parkash, in a written reply in the Lok Sabha on Wednesday according to a statement from Ministry of Commerce & Industry.

With the implementation of the Toys (Quality Control) Order, The Bureau of Indian Standards (BIS) must certify all toys and materials developed or intended for use in play by children under the age of 14. The certification is required to sell in India, and failure to obtain it would result in criminal responsibility under the BIS Act, 2016, which includes jail and hefty penalties.

“Data of proportion of imported toys in the domestic market is not maintained. However, Government has taken a series of steps to promote domestic manufacturing of toys to ensure that no sub-standard, unsafe cheap toys are imported into India. The government has taken significant steps for promoting domestic toy industry in the country, including mandatory sample testing of each imported consignment of toys, enhancement of Basic Customs Duty on Toys from 20% to 60%, implementation of Toys (Quality Control) Order with effect from Jan 1st, 2021, etc," the statement added.

 “Government provides all-round support to protect the interests of the domestic toy industry by promoting Made in India toys; Designing of toys based on Indian values, culture, and history; Using toys as a learning resource, and Promoting indigenous toy clusters," the statement said.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.

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