Reasons to Invest

World’s second largest producer of polyester and related fibers with 8% global share for plush toys.
Domestic toy demand forecasted to grow at 10-15% against global average of 5%
The toys industry in India has the potential to grow to $2-3 bn by 2024.

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FDI Norms

100% FDI is allowed under the Automatic Route
100%

FDI Allowed

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Government Support

Central Government Schemes
  • Scheme For Granting Recognition & Registration To In-House R&D Units
  • Remission Of Duties & Taxes On Exported Products (RoDTEP)
  • Duty Drawback Scheme
  • Export Promotion Capital Goods (EPCG) Scheme
  • Custom Bonded Warehouse Scheme
  • Increase in BCD for Electronic Toys (under HSN 9503) from 5% to 15% to encourage domestic manufacturing.
State Incentives
  • Capital subsidy
  • Stamp duty exemption
  • Interest subsidy
  • Tax reimbursement
  • Electrical duty exemption  
Product Specific Industrial Cluster Development Program

Karnataka is creating India's first toy cluster in the district of Koppal, developed in partnership with Aequs Infra, provides state of the art industrial infrastructure with power, water, internal roads, and waste disposal facilities and common facilities like customs, security, and a Centre of Excellence. The cluster provides a built to suit, self-sustained ecosystem spread over 400 acres of land, including an SEZ to serve export markets and domestic tariff area (DTA) for the domestic market. It has the potential to create 40,000 jobs in five years and attract over INR 5,000 crore in investments. 

Trade Scenario

All toy products under category HS Code 9503 benefit from a preferential tariff structure under APTA (Asia Pacific Trade Agreement) and AIFTA (ASEAN India Free Trade Area). As such, the imposed duties on toy imports of 60% are effectively reduced to up to 34.2% under APTA and 0% under AIFTA subject to FTA conditions.
India has been importing toys of an average value of $285 mn for the last 3 years under the Chapter 9503.
Toys exports from India amounted to $130 mn during 2019-2020 with USA and UK being the lead export destinations
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Gallery

Sep 24, 2021Prime Minister Narendra Modi meets Vice President Harris on 3-day visit to US
Prime Minister Narendra Modi meets Vice President Harris on 3-day visit to US
Sep 24, 2021Prime Minister Narendra Modi meets Vice Pres…Prime Minister Narendra Modi meets Vice President Harris on 3-day visit to US
Launch of the National Single Window System
Sep 23, 2021Launch of the National Single Window SystemLaunch of the National Single Window System
PM Modi interacts with participants of Toycathon-2021
Jun 24, 2021PM Modi interacts with participants of Toyca…PM Modi interacts with participants of Toycathon-2021

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Resources

Team Articles

Oct 18, 2021
Traditional Toy Industry-New India’s Sunrise Sector

The history of the Indian toy industry stretches back to…

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Toys Manufacturing
Mar 04, 2021
The Indian Toy Fair 2021: An impetus to ‘Make in India’

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Budget 2021-22
Feb 03, 2021
The Budget for the Aspirational “New India”

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FAQ

FAQs

What are the objectives of the scheme for setting up of plastic parks in India?

The major objectives of the scheme are:
1) Increase the competitiveness, polymer absorption capacity and value addition in the domestic downstream plastic processing industry through adaptation of modern, research and development led measurers.
2) Increase investments in the sector through additions in capacity and production, creating quality infrastructure and other facilitation to ensure value addition and increase in exports.
3) Achieve environmentally sustainable growth through innovative methods of waste management, recycling, etc.
4) Adopt a cluster development approach to achieve the above objectives owing to its benefits arising due to optimization of resources and economies of scale.

For more details, please visit the following link. 

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