Indian toy exports have surged to USD 325.72 million in 2022-23 from USD 96.17 million in 2014-15, as Indian toy makers showcased their high-quality products at the five-day international toy fair in Germany. According to exporters, these manufacturers received orders worth over USD 10 million from buyers in the US, UK, South Africa, and Germany. The fair, held from January 30 to February 3, saw the participation of more than 55 Indian companies. The Department for Promotion of Industry and Internal Trade (DPIIT) attributed the success of Indian toys to initiatives like mandatory quality norms, increased custom duty, and the National Action Plan on Toys (NAPT). Wooden toys and educational learning toys were particularly popular at the fair. The event also opened doors for international joint ventures, with tie-ups with Snapdeal and Walmart in the pipeline. Little Genius Toys Pvt Ltd, based in Greater Noida, received significant appreciation for their products and expressed interest in joint ventures with Chinese firms for toy manufacturing. To meet the growing demand, the company plans to expand its manufacturing capacity. While toy exports have experienced a significant increase, toy imports have declined by 52 percent from USD 332.55 million in 2014-15 to USD 158.7 million in 2022-23.
Indian toy manufacturers have successfully secured orders worth $10 million at a recent German fair. This achievement highlights the growing demand for Indian toys in international markets. The fair provided a platform for Indian manufacturers to showcase their products and establish connections with global buyers. This significant order value signifies the quality and competitiveness of Indian toy manufacturers, further boosting the country’s toy industry.
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Indian toy manufacturers secure $10 mn in orders at German fair.
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