toy sector
Government forms panel to support toy sector, targets 5% global market share by 2032
This story was originally published at 12:01 IST on 28 July 2026
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NEW DELHI – Commerce and Industry Minister Piyush Goyal Monday announced setting up a task force to support the toy sector and identify interventions needed to achieve a 5% share in the global toy market by 2032. "The task force will work towards achieving six objectives, namely, integration with global value chains, strengthening manufacturing capabilities, resolving value chain bottlenecks, creating skilled workforce and employment, enabling design and innovation, and enhancing ease of doing business," the commerce ministry said in a release.
Lauding the increasing share of India-made toys across the world, Goyal called upon the industry to work towards building a complete domestic manufacturing ecosystem supported by advanced technologies, globally competitive quality standards, and localised infrastructure. He also called for stronger branding of the Indian toy sector and greater integration with global value chains.
Goyal also launched a 'Toy Sector Playbook' which will serve as a comprehensive roadmap for manufacturers, startups, micro, small and medium enterprises, and investors. It provides actionable guidance on manufacturing ecosystems, value chains, standards and compliance requirements, exports and emerging market opportunities. "It aims to serve as a practical resource for stakeholders seeking to strengthen competitiveness and expand their presence in both domestic and international markets," the ministry said.
At present, India exports toys to 153 countries. In the financial year 2025-26 (Apr-Mar), India exported toys worth $186 million, with imports of toys declining 71?tween FY19 and FY26, Finance Minister Nirmala Sitharaman had said earlier this month at an event. The toy market in India is projected to grow to $5 billion by 2034, she had said. End
US$1 = INR 95.81
Reported by Priyasmita Dutta
Edited by Himanshi Gupta
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