Export
India’s toy exporters are preparing to take advantage of the huge tariffs imposed by the US on China’s imports. Indian exporters are excited by the increasing inquiries of American buyers looking for alternative markets to reduce their dependence on Chinese goods and are preparing to take advantage of this ‘golden opportunity’. The Indian Toy Association has identified about 40 such companies that have the ability to export to the US market, meeting compliance requirements.
20 companies are exporting
Union President Ajay Aggarwal told PTI-language that currently about 20 companies export a large amount of toys to the US market. He said, “We have received more inquiries from American toy buyers in the last one month. Some Indian exporters have also contacted us and have sought a list of manufacturers who can make toys according to American rules and regulations. They are looking for ‘White Labeling’ (selling the other’s item by their brand name) and the original equipment manufacturers who can meet the needs of American foggy.”
Market reached $ 42.8 billion in 2024
According to GMI Research, the US toy market reached $ 42.8 billion in 2024 and is expected to reach $ 56.9 billion in 2032. This will grow by an annual growth rate (CAGR) of 3.6 percent by 2025-2032, due to the growing preference of consumers to educational and interactive toys.
Big opportunity for India
Aggarwal said, “America is a big market for toys and if a high tariff is imposed on China and less tariffs are imposed on India, we will benefit.” “Around 20 companies of India are already exporting large quantities to America in the toy region. If we get a fee benefit of low rates than other countries, we can increase the presence of Indian toys in the US market,” he said.
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