Business
India's Toy Story: Exports Witness An Increase Of 240 Per Cent Since 2014-15; Imports Decline By 67 Per Cent
Wooden toys being sold at the banks of the Khoai river. (Flickr)
Export of toys from India have increased exponentially in the last seven years, said Union Minister of State for MSME Shri Bhanu Pratap Singh Verma in a written reply in Lok Sabha on Thursday (22 December).
From $96.17 million (aprox Rs 797 crore) in 2014-15 to $326.63 million (Rs 2706 crore aprox) in 2021-22, the export of toys has seen an increase of approximately 240 per cent.
There has also been a considerable reduction in the volume of import of toys.
As per the release, as a result of the various steps taken by the government to restrict import of sub-standard and unsafe toys and to promote domestic toy industry, the volume of import of toys into the Indian market has shown a consistently decreasing trend.
The import of toys (HSN Codes 9503, 9504, 9505) to India has seen a decline of almost 67 per cent from $332.55 million (aprox Rs 2756 crore) in 2014-15 to $109.72 million (Rs 909 crore) in 2021-22.
The union government has taken several measures to promote indigenous toys like:
Formulation of a comprehensive National Action Plan for Toys to promote designing of toys based on Indian values, culture and history, using toys as a learning resource organising hackathons and grand challenges for toys designing and manufacturing monitoring quality of toys, promoting indigenous toy cluster, etc.
Basic Customs Duty (BCD) on toys (HS code 9503) was increased from 20 per cent to 60 per cent in February, 2020.
A quality control order for toys has been issued on 25 February 2020 by Department for Promotion of Industry and Internal Trade (DPIIT) through which toys have been brought under compulsory certification from Bureau of Indian Standards (BIS) w.e.f. 01 January 2021.
Amendment in Quality Control Order for Toys on 11 December 2020 to exempt goods and articles manufacture and sold by artisans registered with Development Commissioner, Ministry of Textiles and by registered proprietor and authorised users of a product registered as Geographical Indication by the Office of Controller General of Patents, Designs and Trademarks.
Special provisions were notified by BIS on 17.12.2020 so as to grant license to micro sale units manufacturing toys without testing facility for one year and without establishing in-house testing facility.
BIS have granted 1,001 licenses to domestic manufacturers and 28 licenses to foreign manufacturers for manufacture of toys with BIS standard Marks.
Further, to promote MSME sector including toy industry, the Ministry of MSME is implementing various schemes for providing credit support for new enterprise creation, technology upgradation, skill development and infrastructure development, said the written reply.
Under Prime Minister’s Employment Generation Programme (PMEGP), margin money assistance upto 35 per cent of the project cost is being provided for the unit costing upto Rs 50 lakh for manufacturing sector and Rs 20 lakh in the service sector.
A total of 19 Toy Clusters have been approved under the scheme benefitting 11,749 artisans with an outlay of Rs 55.65 crore.
