India Toy Exports Poised To Capture Bigger Share Of Global Pie

New Delhi: India’s fast-growing toy industry is poised to capture a larger share of the global toy market, which is estimated to reach $179.4 billion by 2032, according to a report by Punjab National Bank (PNB).

The report states that the growth in the toy industry is driven by skill development, technology adoption, and quality improvements, along with significant support from the government.

This is reflected in the trade figures, which show that India’s toy imports have declined by as much as 79 per cent from $304 million in FY2018-19 to $65 million in FY2023-24. Meanwhile, exports have grown by 40 per cent during the same period, rising from $109 million to $152 million. As a result, India has become a net exporter of toys.

Government policy has played a crucial role in strengthening domestic manufacturing in recent years, and the announcement of the National Action Plan for Toys in the Union Budget 2025-26 reaffirms the crucial importance of

this sector.