India Gears Up to Become Global Toy Hub—New Scheme to Spark Sustainable Manufacturing Boom

India is set to unveil a comprehensive scheme to boost domestic toy manufacturing, aiming to transform the country into a global hub for high-quality, sustainable toys, according to recent announcements by Commerce Minister Piyush Goyal and Finance Minister Nirmala Sitharaman. The initiative builds on the National Action Plan for Toys and was spotlighted during the Union Budget 2025 and Invest Karnataka 2025 summit.

 

The scheme will focus on developing dedicated toy clusters, enhancing skill development, and fostering innovation and sustainability. It also aligns with India’s broader push to reduce import dependency—toy imports have already dropped by 50%, while exports have tripled over the past five years.

 

The government aims to leverage the Production-Linked Incentive (PLI) scheme, support MSMEs and startups, and promote the “Made in India” brand in global markets. Industry leaders have welcomed the move, citing its potential to generate employment and attract investment.

 

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Source: Economic Times – India to Introduce New Policies for Toy Manufacturing | CNBC TV18 – FM Sitharaman Announces Toy Manufacturing Scheme