India’s toy exports up at $326.63 mn in FY22: Centre
1 min read . Updated: 22 Dec 2022, 05:04 PM IST
PremiumTo promote MSMEs, including toy makers, the government has implemented various schemes to provide credit support for new enterprise creation, technology upgradation, skill development and infrastructure development.
NEW DELHI: India exported toys worth $326.63 million in financial year 2021-22, up from $96.17 million in 2014-15, said Union minister of state for micro, small and medium enterprise (MSME) Bhanu Pratap Singh Verma on Thursday.
In a written reply in Lok Sabha, the minister said that the import of toys to India fell to $109.72 million in 2021-22 from $332.55 million in 2014-15.
Verma said that the government has taken several steps to restrict import of sub-standard and unsafe toys and to promote the domestic toy industry.
Further, to promote MSMEs, including toy makers, the government has implemented various schemes to provide credit support for new enterprise creation, technology upgradation, skill development and infrastructure development.
Under the Prime Minister’s Employment Generation Programme (PMEGP), margin money assistance up to 35% of the project cost is provided for the unit costing up to ₹50 lakh for manufacturing sector and ₹20 lakh in the service sector.
Under the Scheme of Funds for Regeneration of Traditional Industries (SFURTI), assistance is provided for creation of Common Facility Centres with latest machines, design centres, skill development, etc.
A total of 19 toy clusters have been approved under the scheme benefitting 11,749 artisans with an outlay of ₹55.65 crore.
BIS have granted 1,001 licences to domestic manufacturers and 28 licences to foreign manufacturers for manufacture of toys with BIS standard Marks.
