Piyush Goyal Urges 10-Fold Growth in Toy Exports Over Four Years, Reaffirms Government's Support for QCOs

The Centre has asked the domestic toy industry to set a target of increasing exports tenfold over the next four years, as per a MoneyControl report.  

Speaking at the 17th Toy Biz International B2B Expo 2026 on July 4, Commerce and Industry Minister Piyush Goyal said the global toy market is estimated at around $120 billion, while India's share is only 0.2-0.3%.  

He said exports from the sector have grown by 239% in the past four years, but the country's participation in the global market remains low. 

Trade Agreements Seen as Export Opportunity 

The minister said manufacturers should make greater use of India's free trade agreements to expand overseas business. India has signed nine FTAs over the last three-and-a-half years, covering 38 countries.  

He asked industry participants to engage with importers, organised retailers, supermarkets and e-commerce platforms in these markets to increase the presence of Indian products. 

Goyal said the proposed India-New Zealand Free Trade Agreement is expected to come into force this year. Negotiations are also underway with Canada, the Gulf Cooperation Council (GCC), Mexico and Brazil. 

Quality Control Framework to Continue 

The minister said the government will retain the existing Quality Control Orders (QCOs) for toys. His remarks came after some sections of the industry sought relaxation of the norms. 

Goyal said the quality framework would continue and added that the government would also take measures to prevent unfair dumping of imported products. He clarified that the recently notified Transition Facilitation (Quality Control) Order, 2026, does not replace the existing rules.  

According to him, the order provides a temporary compliance mechanism to support new investments and manufacturing expansion without changing mandatory quality requirements. 

Focus on Manufacturing Capacity 

Goyal said manufacturers should invest in better machinery and improve production standards. He also proposed setting up a Centre of Excellence through a public-private partnership to provide testing, product design and certification facilities for the industry. 

Mandatory Quality Control Orders for toys have been in place since 2020. Under the framework, both imported and domestically manufactured toys are required to meet Bureau of Indian Standards (BIS) safety norms and carry the ISI mark before they can be sold in India. 

Read More: India Reiterates Focus on Skilled Mobility as New Zealand Moves to Tighten Immigration Rules: MEA! 

Conclusion 

The Centre has ruled out changes to Quality Control Orders for toys and called on manufacturers to focus on exports, quality and access to overseas markets through trade agreements. 

For daily market updates and regular stock market news in Hindi, stay tuned to Angel One's share market news in Hindi. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.   
 
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.