News Brief
Government's 'Make In India' Push Bears Fruits: Toy Imports Dip By 52 Per Cent, Exports Surge By 239 Per Cent
Government creates conducive manufacturing ecosystem for toy industry. (Representative Image)
Union Minister of State for Commerce and Industry, Som Parkash has highlighted significant milestones achieved by India's Toy Industry in the Rajya Sabha.
According to a government release, the Indian toy industry has experienced a notable shift, with a 52 per cent decrease in overall toy imports and a remarkable 239 per cent increase in toy exports from FY 2014-15 to FY 2022-23.
Key initiatives undertaken by the government include the promotion of 'Made in India' toys, designing toys based on Indian values and culture, and leveraging toys as learning resources.
The introduction of hackathons and grand challenges for toy designing and manufacturing, coupled with stringent quality monitoring, has further contributed to this positive trend.
Here are some of the steps taken by the Government to further enhance the exports of Made in India toys :-
1. Quality Control Measures: The Directorate General of Foreign Trade (DGFT) has mandated sample testing for each consignment, ensuring no sale without successful quality testing.
2. Tariff Adjustments: Basic Custom Duty (BCD) on Toys (HS Code 9503) was increased from 20 per cent to 60 per cent in February 2020 and later elevated to 70 per cent in March 2023.
3. Quality Certification: The Toys (Quality Control) Order, 2020, made Bureau of Indian Standards (BIS) certification mandatory for toys.
4. Exemptions and Relaxations: Amendments to the Quality Control Order (QCO) exempted goods from registered artisans and those linked to Geographical Indication.
5. Licensing Support: BIS granted licenses to micro scale units manufacturing toys without testing facility for one year and not to insist on establishing in-house facility.
6. National Action Plan: A comprehensive plan in collaboration with 14 ministries, including Education, Textiles, Railways, Science and Technology, and Information & Broadcasting, promoting trade, indigenous toys, and learning resources.
7. Free Trade Agreements: Recent FTAs with UAE and Australia offer zero-duty market access for Indian toy exports.
These initiatives collectively form part of the government's action plan to foster local manufacturing and position India as a global hub for the toy industry.
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