Toy industry booming with 239% rise in exports in FY23 over FY15
India's largest toy trade event, Toy Biz International 2025, is set to return with its most impactful edition yet -- bringing together over 350 Indian toy brands and 10,000+ buyers from 25 countries, including international retail giants like Walmart, Hamleys India, Landmark, and Lulu Group.
Organized by the
Toy Association of India
(TAI), this event will spotlight India's rising stature in the global toy manufacturing arena, especially as the
global toy supply chain
undergoes a major transformation, thanks to a combination of domestic policy support and international trade shifts.
With the United States imposing 25% tariffs on $300 billion worth of Chinese goods, including toys -- and tightening scrutiny on Vietnamese and other Southeast Asian imports -- Indian toy makers are stepping up to seize the opportunity.
As a result:
* Global sourcing is diversifying, and India is emerging as a preferred alternative manufacturing base for American and European buyers.
* Indian companies are forging global joint ventures, expanding capacity, and aligning to international compliance norms.
* Major US retailers are showing increased interest in Indian suppliers, with early discussions on bilateral trade deals further accelerating optimism.
Moreover, in a bold move to uplift local industries, the Indian government has raised basic
customs duties on imported toys
from 20% to 60%, enforced mandatory BIS certification, and implemented stricter safety and quality norms to curb low-quality imports -- particularly from China, which accounted for over 70% of India's toy imports until recently.
These efforts have already begun to yield results:
* Toy imports have declined by over 70% between FY2018-19 and FY2023-24
* Toy exports have grown by more than 60% in the same period
As the global toy supply chain undergoes a strategic shift, India is emerging as a serious contender in the international toy export market. With increased high-value exports, this year's Toy Biz International is a testament to the innovation and quality of
Indian toy manufacturers
who are meeting international standards and offering customized solutions," said Pawan Gupta, Official Spokesperson and Former Vice-President, the Toy Association of India (TAI).
"The Indian toy industry is among the fastest-growing globally, expected to reach USD 3 billion by 2028, growing at a CAGR of 12% between 2022-2028. With tariff advantages, international outreach, and expanding exports to the US, Middle East and Africa, Indian manufacturers are increasingly seen as credible, scalable, and globally competitive partners. Our industry is stepping into a leadership role not just with volume, but with innovation and safety. India is now on the global radar for high-quality toy manufacturing," he added.
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