Govt policies enable Indian toy manufacturers to compete in global markets: FM Sitharaman

Finance Minister Nirmala Sitharaman today said that India is building a globally competitive toy manufacturing ecosystem through higher quality standards, policy support, skilling and improved market access. Addressing an event organised by the Toy Association of India in New Delhi, Mrs Sitharaman said that agreements with the UAE and Australia, along with schemes such as PM MUDRA, Remission of Duties and Taxes on Exported Products are enabling Indian toy manufacturers to scale up production, boost exports and compete in global markets. She said that India’s toy exports reached 186 million dollars in 2025-26, with Indian toys now reaching 153 countries. She said toy imports have declined by 71 per cent since 2019, reflecting the success of quality-focused and self-reliant manufacturing. The Finance Minister added that while India’s toy market is projected to reach five billion dollars by 2034, the country’s aspiration should be to secure a much larger share of the expanding global toy market.