India targets 5% share in global toy trade by 2032, sets up dedicated task

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The Centre has formed a task force to strengthen toy manufacturing and raise India’s share in the global toy market from 1.9% to 5% by 2032.

By PTI

Updated - August 07, 2026 at 06:53 PM. | New Delhi

India currently has over 21,000 MSMEs, 770 DPIIT-recognised toy startups, 50 toy clusters and more than 1,800 BIS licencees. | Photo Credit: Businessline

The government on Monday announced setting up of a task force to identify ways to boost manufacturing and increase share of Indian toy sector to 5 per cent in the global market by 2032.

At present, the share is 1.9 per cent of global trade.

The announcement was made by Commerce and Industry Minister Piyush Goyal here during a meeting of toy stakeholders.

The minister "announced the setting up of a task force to support the toy sector and identify interventions towards achieving the goal of reaching a 5 per cent share in the global toy market by 2032," an official statement said.

The task force will work towards achieving six objectives, including integration with global value chains, strengthening manufacturing capabilities, resolving value chain bottlenecks, creating skilled workforce and employment, enabling design and innovation, and enhancing ease of doing business.

Goyal also called upon industry stakeholders to work towards building a complete domestic manufacturing ecosystem supported by advanced technologies, globally competitive quality standards, deep localisation, and stronger branding.

India's toy ecosystem comprises more than 21,000 MSMEs, over 770 DPIIT-recognised toy startups, nearly 50 toy clusters, and more than 1,800 BIS licencees.

Published on July 28, 2026

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