Introduction

India has a rich legacy in toy-making, with a history of over 5,000 years. Excavations at Harappa and Mohenjo-Daro have revealed early examples of toys, such as small carts and figurines, reflecting the deep cultural roots of Indian craftsmanship. Over time, different regions developed unique toy-making traditions, like Rajasthan’s Kathputlis, influenced by local materials and artistic styles. However, the Indian toy industry has significantly transformed in recent years. Until a decade ago, the market was dominated by inexpensive, mass-produced imports, primarily from China, leaving domestic manufacturers struggling to compete. In 2023, this trend reversed, with India’s toy exports surpassing imports for the first time, reaching $522.2 million compared to $517.7 million. This shift has been driven by government initiatives such as increased import duties, the introduction of the Quality Control Order (QCO), and the Make in India campaign, all aimed at promoting local manufacturing. Additionally, changing consumer preferences toward sustainable, educational, and technology-driven toys have further accelerated the industry’s growth. As India positions itself as a global toy manufacturing hub, this document explores the factors driving this transformation, the challenges faced by the industry, and strategic recommendations for stakeholders to capitalize on emerging opportunities.

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