India has set a target to increase its share in the global toy trade from 1.9% to 5% by 2032. To achieve this, the Indian government has established a dedicated task force focused on strengthening the country’s toy manufacturing sector. The initiative aims to boost domestic production and enhance India’s presence in the international market.
The task force will work on various fronts, including improving quality standards, promoting innovation, and supporting local manufacturers. This move comes as part of broader efforts to expand India’s manufacturing capabilities and reduce reliance on imports. The government hopes that by enhancing the sector, it can create jobs and contribute to economic growth.
The decision reflects a growing emphasis on strategic industries that can drive both export revenue and domestic employment. With the global toy market valued in the hundreds of billions of dollars, India’s push for a larger share underscores its ambition to become a key player in the sector. (thehindubusinessline.com)
