Sitharaman urges Indian toymakers to target a quarter of the global market
FM Sitharaman called on Indian toymakers to aim for 25% of the global market, backed by Mudra loans, RoDTEP and trade pacts. Toy imports fell 71% from FY19-FY26 while exports hit $186M in FY26. The domestic market is projected to reach $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 market, leveraging government schemes and trade pacts. Toy
Key facts
- 25% global market share target
- $5 billion domestic market by 2034
- $179 billion global market by 2032
- imports down 71% FY19-FY26
- $186 million exports FY26
Why this matters
Policy tailwinds and collapsing import dependence make Indian toy manufacturers attractive M&A or JV targets for players seeking export-oriented, incentive-supported production bases.
What to watch
- FY27 export figures vs the $186M base
- New PLI or cluster funding announcements for toys
- BIS certification volume and MSME certification costs
- Chinese toy pricing and any anti-dumping actions
- Component/raw-material import dependency data
- Expand toy manufacturing clusters and PLI-style incentives beyond current schemes
- Push BIS quality certification and safety standards to unlock EU/US market access
- Domestic majors and MSMEs pursue contract-manufacturing tie-ups and design capability
- Leverage FTAs to secure preferential toy tariff lines