New Delhi: The Union Ministry of Commerce informed that the toy export from the country has gained by 61% in last three years. The import of toys decreased by 70% in the period. As per the ministry, the ‘Make in India’ policy launched by the Union government is the main reason for this.
As per the data, the import of toys to India has reduced to $ 110 million in 2021-22 financial year. It was at $ 371 million in 2018-19 fiscal year. . For Harmonized System Codes (HS Codes) 9503, 9504, and 9505, the export of toys has increased from $ 202 million in 2018-19 fiscal year to $ 326 million in 2021-22 fiscal year. For HS Code 9503, exports of toys have increased from $ 109 million in 2018-19 fiscal year to $ 177 million in 2021-22 fiscal year.