“Bharat becomes atmanirbhar in the Toy Industry, imports from China reduces by over 70% in recent years”, Opindia, April 26, 2024:
“As part of the Local for Vocal initiative, India is making a strong course correction in the toy manufacturing ecosystem. The country’s massive toy demand was till recent years met mainly through imports, largely from neighbouring China. India’s toy imports from China have reduced by an estimated 70 per cent over the recent years.
Policy interventions, such as raising import duty to discourage cheap imports, emphasis on quality and incentives have created an ambient atmosphere for the firms in this largely unorganized space.
Pushed by the self-reliant India initiative and renewed focus on enhancing domestic manufacturing post-Covid, a large number of small and big players have forayed into this area once perceived as not so lucrative proposition……”
Read the full article at Opindia.com
