India Sets Target of 5% Global Toy Market Share by 2032

India is stepping up efforts to become a major global toy manufacturing hub, with Union Commerce and Industry Minister Piyush Goyal announcing the formation of a dedicated task force to accelerate the sector's growth. The initiative aims to help India secure a 5% share of the global toy market by 2032 by strengthening manufacturing, promoting innovation and boosting exports.

The announcement was made during the stakeholder meeting, "Team Up for Toys: Driving SCALE, Innovation and Exports," organised by the Department for Promotion of Industry and Internal Trade (DPIIT) in New Delhi. The event also witnessed the launch of the Toy Sector Playbook, a roadmap to improve the competitiveness of India's toy industry.

Task Force to Strengthen Manufacturing and Exports

The newly announced task force will work across six strategic priorities to support the industry's long-term growth. These include integrating Indian manufacturers with global value chains, expanding domestic manufacturing capabilities, addressing value chain bottlenecks, developing a skilled workforce, encouraging design-led innovation and improving the ease of doing business.

The government aims to create a stronger domestic manufacturing ecosystem backed by advanced technology, higher quality standards, localisation and export-oriented growth. The roadmap is expected to benefit manufacturers, startups, micro, small and medium enterprises (MSMEs), investors and entrepreneurs looking to expand their presence in domestic and international markets.

India's Toy Industry Continues to Expand

Highlighting the sector's progress, Piyush Goyal said government initiatives such as mandatory Bureau of Indian Standards (BIS) certification, cluster development programmes and support for MSMEs and startups have strengthened India's toy ecosystem.

According to the government, India currently has more than 21,000 MSMEs, over 770 DPIIT-recognised toy startups, nearly 50 toy clusters and more than 1,800 BIS licensees operating in the sector.

Stakeholders also discussed measures to attract investments, strengthen local supply chains, enhance product design and innovation, build skilled manpower and increase India's participation in global toy value chains.

Read more: Indians Reporting ₹100 Crore-Plus Income Hit Five-Year High in AY2025-26, Government Tells Parliament.

Conclusion

With the formation of a dedicated task force and the launch of the Toy Sector Playbook, the government has outlined a clear strategy to transform India's toy industry into a globally competitive manufacturing and export hub. By focusing on innovation, quality, skill development and supply chain integration, the initiative aims to boost exports, create employment opportunities and support the broader vision of Viksit Bharat while increasing India's footprint in the global toy market.

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