Made in India toys demand increased in domestic markets, record sales of ‘Chhota Bheem’

Photo:FILE Made in India toys increased in demand in domestic markets

Made in India: To increase customs duty on import of toys and for import Bureau of Indian Standards (BIS) Steps like making certification mandatory, besides giving a boost to domestic manufacturing, have also helped the toy industry to explore global markets. Experts associated with the toy industry have said that these government steps have given a boost to domestic manufacturing. Apart from this, giving importance to domestic characters in recent times has also strengthened the market.

Demand for Chhota Bheem toys increased

According to experts, the demand for toys based on Indian mythological characters, desi film characters and superheroes like Chhota Bheem is increasing as domestic companies break away from the dominance of China and some other countries. Now ‘Made-in-India’ toys have a very clear edge in the domestic market. Toy Association of India President Ajay Aggarwal said that the manufacturers are increasing their production capacity to meet the growing local and international demand. He said that the import of toys has come down due to increase in customs duty on import of toys and making BIS certification mandatory.

According to a data from the Ministry of Commerce and Industry, toy imports in India stood at $304 million in 2018-19 but it declined to $36 million in the fiscal year 2021-22. In comparison, exports of domestically made toys have increased from $10.9 in FY 2018-19 to $17.7 in 2021-22. According to the Ministry of Industry, the sector is also going global as manufacturers explore new markets and increase exports to the Middle East and African countries. According to a joint study report by industry body FICCI and KPMG, the Indian toy market is expected to grow to $2 billion by 2024-25. In the year 2019-20, it was at one billion dollars.

Banaras wooden toys making a splash

Banarasi wooden toys have their own special identity and are in demand all over the world. After the dedication of Shri Kashi Vishwanath Dham, the model of Shri Kashi Vishwanath Dham carved on wood has become the first choice of tourists visiting Banaras. People are buying it to keep at home. At the same time, the corporate demand for this model has also increased for gifting. Wooden toy makers Bihari Lal Aggarwal and Amar Agarwal said that the wooden toy industry of Varanasi is getting the maximum benefit from the launch of Dham and its promotion by Prime Minister Narendra Modi.

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Shivam Bangwal

Shivam Bangwal is an Indian based entrepreneur who is a tech, travel and coding enthusiast with a post graduation degree on Master's of Computer Applications. He is a founder of Youthistaan, People News Chronicle, Hitchhike TV, Branding Panther and many more.
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