Union Minister for Commerce and Industry Piyush Goyal today said that imports of toys have declined sharply and a major share of the domestic toy market is now being met by Made-in-India products.He said that the global toy industry is valued at around 120 billion dollars, while India’s share remains only 0.2 to 0.3 per cent, stressing that the sector has immense potential for expansion.Addressing the 17th Toy Biz International B2B Expo in New Delhi, Mr Goyal said Indian toy manufacturers are contributing significantly to nation-building. Recalling the situation before 2020, he said cheap and substandard imported toys dominated the market, many of which failed quality and safety standards.The Minister said Prime Minister Narendra Modi’s call for India to emerge as a global toy hub, along with initiatives such as Make in India and the National Toy Action Plan 2020, has transformed the sector. He said more than 50 toy clusters have been developed across the country, with nearly 80 per cent of the sector driven by MSMEs.Mr Goyal urged toy manufacturers, particularly MSMEs, to aspire for higher growth and adopt advanced technologies such as CAD-CAM for design and CNC machines for manufacturing to improve quality and productivity.Meanwhile, BJP MP Bansuri Swaraj said India’s toy industry reflects creativity, innovation, entrepreneurship and the vision of Aatmanirbhar Bharat at the grassroots level. She said the sector has emerged as a strong example of the country’s “Local to Global” initiative.Ms Swaraj congratulated the Toy Association of India and said the participation of buyers from more than 50 countries and the presence of a large number of Indian manufacturers reflect the growing global acceptance of Made-in-India toys.Highlighting the innovation in Indian toys, she said their engineering and design offer greater value for money, with products serving multiple purposes and remaining useful as children grow.The four-day expo commenced today and will continue till the 7th of this month. More than 40 countries are participating in the event.
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