India eyes a global play after changing China's toy story at home
India is seeking to raise its global toy market share from under 1% to 5% by 2032, after higher import duties, safety standards and government support helped domestic manufacturers challenge Chinese imports. Toy exports reached $186 million in FY26. However, fragmented production, limited scale, dependence on Chinese components and weak brand ownership remain key challenges to becoming a major…
India is pursuing a global strategy following its shift in the domestic toy landscape. The nation has ramped up import duties, safety standards, and offered government support to boost its toy industry, previously dominated by cheap Chinese imports. Now, India aims to secure a global export share, targeting a 5% market presence by 2032, up from the current less than 1%, as reported by The Economic Times.
The government has zeroed in on ten focus nations, including the USA, UK, Poland, and Australia, with product categories such as dolls, wheeled toys, video-game consoles, and screen-based games as its key targets. Finance Minister Nirmala Sitharaman has even encouraged toy manufacturers to aim for a quarter of the global market.
India's toy exports rose by 89.1% between 2019 and 2026, climbing from $203.5 million to $384.7 million. Imports in the same categories dropped by 37.5% over the same period. With a trade surplus of $152 million in 2026, India's toy industry is gaining ground. However, converting local production into export-ready supply remains a challenge.
Experts highlight the need for scale, ecosystem integration, and investment in international testing to compete effectively with China, which currently holds a dominant 70-75% share in global toy exports.
Written by urgent.news from The Economic Times - Economy's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
