Slight decline in toy exports from the country, no significant growth despite measures like quality control

At $152.3 million in 2023–24, the country's toy exports fell slightly. $153.8 million was this amount in 2022–2023. On the other hand, imports rose from $62.3 million in 2022–2023 to $64.9 million in 2023–2024.

According to the report of the Global Trade Research Initiative (GTRI), an economic research institute, toy exports increased from $ 129.6 million to $ 177 million from 2019-20 to 2021-22. India's toy exports did not significantly benefit from mandatory quality control orders, the report said. Domestic measures aimed at promoting local industry did not lead to significant growth in toy exports.

GTRI founder Ajay Srivastava said the Quality Council of India banned the import of substandard toys from China. Despite this, there was no increase in exports from India. India's share in global toy exports is only 0.3 percent, while China's share is 80 percent. China exported toys worth a total of $ 48.3 billion in 2023-24.