China’s toy market.
Budget 2025: Modi government has announced to make India a global center of toys in the 2025 budget. Finance Minister Nirmala Sita Raman has announced to promote the manufacture and production of toys in India. Now the toy industry will be encouraged across the country. Make in India toys in the country will now rule the toy market of the whole world. This announcement of India may increase China’s tension. Let us know that China is still the largest toy producing country in the world. China is threatened in toy markets around the world. But now India is going to fade threats in China’s toy markets. The Modi government has announced to make India a toy hub of the world.
How big is the toy market in the world
Currently, there is a US dollar toy market around the world. If you guess this in Indian rupees, then it reaches close to 8 lakh crores. Now in 2025, the toy market worldwide can increase from 131 to 135 billion dollars. In such a situation, PM Modi has announced to make the country a global hub of toys with the intention of capturing India to the toy market of the world. So that India can also benefit from the growing toy market of the world and it can challenge China’s dominance.
How much India now exports toys and imports
According to the data of the Finance Ministry of the Government of India, the country’s toy exports in the world’s total toy market have been around US $ 15 million in 2023-24. At the same time, the toy market in India alone is about 16 thousand crores. Only 25 percent of these toys are indigenous. The remaining toys are imported from countries like China. Now in the budget 2025, this announcement of India has also focused on increasing indigenous toys in our country’s market. Currently, 70 percent toys are imported into India from China. But now the day is not far when completely indigenous toys will be sold in the country. Not only this, India will be seen challenging China’s toy market in markets around the world.
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