India's toy exports jump 239 percent in 4 years; Piyush Goyal sets ambitious 10-fold growth target

Addressing the toy industry, Goyal also noted that toy imports have declined by 32 per cent, reflecting the growing strength of domestic manufacturing.

He remarked while addressing the 17th Toy Biz International B2B Exhibition 2026, organised by the Toy Association of India (TAI) in New Delhi.

He said more than 50 toy clusters have been established across the country, with nearly 21,000 MSMEs engaged in toy manufacturing. Many of these units are also undertaking contract manufacturing for both Indian and international brands.

Highlighting the sector's transformation, Goyal said that while domestically manufactured toys earlier accounted for only around 12 per cent of the Indian market, imports now make up just ₹2,500-3,000 crore of the country's approximately ₹18,000 crore toy market. The remaining demand is being met by Indian manufacturers.

While acknowledging significant improvements in quality standards, the minister cautioned the industry against complacency. He urged manufacturers to continuously enhance product quality, materials, finishing and manufacturing standards to remain globally competitive.

Goyal emphasised the need for high-quality paints, superior finishing, safe edges and durable products. He also asked the industry to prepare a wish list of testing equipment that would help strengthen quality certification.

The minister suggested batch-wise testing of toys for durability, paint quality, finishing, and the performance of battery-operated and electronic products, saying that certified high-quality toys would enable manufacturers to build stronger brands and expand their market share.

The exhibition featured more than 400 Made-in-India toy brands, attracted over 15,000 business visitors, welcomed participants from more than 50 countries, and brought together stakeholders from across the toy manufacturing ecosystem.