A top office bearer of the Toys Association of India has also confirmed that the PLI for the toys sector is one of the top considerations of the government.
The introduction of higher import duties and the quality control measures has significantly impacted the toy trade in India with India’s toy imports falling drastically from $304.1 million in FY19 to $64.9 million in FY24.
During the same time, exports increased modestly from $109 million to $177 million. However, by FY24, exports have decreased to $152.3 million.
Mansavi of Jammbo, a company that started operations in August 2023 and has touched Rs 30 crore sales both online and offline, the toy industry needs the PLI scheme to ensure real manufacturing in the sector.
“Currently, most manufacturers in India actually assemble toys from parts imported from China,” he says.
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