FM Sitharaman urges Indian toymakers to chase a quarter of the global market
Backing the domestic toy category with trade pacts, Mudra Yojana and export duty remissions, Sitharaman pushed makers toward a bigger global slice. India's toy imports fell 71% from FY19-FY26 while exports hit $186M in FY26; the domestic market is pegged at $5B by 2034 against a $179B global market by 2032.
What happened
Toy Association of India · FM Sitharaman urged Indian toymakers to target a quarter of the global toy market, citing conducive policies, trade agreements,
Key facts
- $5 billion by 2034 domestic market
- $179 billion global by 2032
- imports down 71% FY19-FY26
- exports $186 million FY26
Why this matters
The government's export push and trade-pact backing create a window to acquire or partner with domestic toymakers positioned to capture share of the $179B global market.
What to watch
- Export figures for FY27 vs the $186M FY26 base
- Any new toy-specific PLI or incentive scheme notification
- Signed FTA text with UK/EU affecting toy duties
- FDI or contract-manufacturing shift announcements (China+1)
- Domestic input-cost and plastic/electronics component pricing
- Track new toy-cluster/park announcements and PLI-style incentive extensions to the sector
- Watch large listed players and diversified conglomerates entering branded/licensed toy segments
- Monitor FTA chapters covering toy tariff lines and rules-of-origin
- Expect BIS certification tightening and continued anti-dumping posture on imports