Latest news with #ToyBizInternational2025
Hans India
27 minutes ago
- Business
- Hans India
Toy Biz 2025: India emerges as global hub amid trade shifts, import curbs
New Delhi: India's toy manufacturing sector is gaining remarkable momentum, with exports rising by 239% in FY23 compared to FY15. Riding this wave of growth, the country's largest toy trade event — Toy Biz International 2025 — is set to return from July 4–7 at Pragati Maidan, New Delhi, drawing over 10,000 buyers from 25 countries, including industry giants like Walmart, Hamleys India, Lulu Group, and Landmark. Organised by the Toy Association of India (TAI), the mega event will feature more than 350 Indian toy brands and showcase India's emergence as a serious global player in the toy manufacturing ecosystem, amidst evolving global trade dynamics. With the U.S. imposing 25% tariffs on Chinese toys and tightening scrutiny on Southeast Asian imports, global buyers are increasingly turning to India as a preferred sourcing destination. This shift is further supported by domestic policy reforms, including a threefold hike in import duties (from 20% to 60%) and the introduction of mandatory BIS certification and quality control measures, aimed at curbing low-grade imports and bolstering local manufacturing. As a result, toy imports into India have dropped by over 70% between FY2018–19 and FY2023–24, while exports have surged by more than 60% during the same period. 'India is now firmly on the global radar as a high-quality toy manufacturing hub,' said Pawan Gupta, Official Spokesperson and Former Vice President of TAI. 'With rising demand from the U.S., Middle East, and Africa, and a supportive policy environment, Indian manufacturers are becoming globally competitive not just in scale, but also in innovation and safety.' He added that the Indian toy market is among the fastest-growing in the world, projected to reach $3 billion by 2028, growing at a CAGR of 12%. The sector is also seeing increased investments, joint ventures, and alignment with international compliance norms. Toy Biz International 2025 will spotlight India's rich diversity in toy production — from traditional crafts to battery-operated and educational toys, puzzles, games, ride-ons, and children's furniture — reflecting both cultural heritage and cutting-edge innovation.
Business Standard
11 hours ago
- Business
- Business Standard
Toy industry booming with 239% rise in exports in FY23 over FY15; Toy Biz International Expo expecting buyers from 25 countries in July
VMPL New Delhi [India], June 16: India's largest toy trade event, Toy Biz International 2025, is set to return with its most impactful edition yet -- bringing together over 350 Indian toy brands and 10,000+ buyers from 25 countries, including international retail giants like Walmart, Hamleys India, Landmark, and Lulu Group. Organized by the Toy Association of India (TAI), this event will spotlight India's rising stature in the global toy manufacturing arena, especially as the global toy supply chain undergoes a major transformation, thanks to a combination of domestic policy support and international trade shifts. With the United States imposing 25% tariffs on $300 billion worth of Chinese goods, including toys -- and tightening scrutiny on Vietnamese and other Southeast Asian imports -- Indian toy makers are stepping up to seize the opportunity. As a result: * Global sourcing is diversifying, and India is emerging as a preferred alternative manufacturing base for American and European buyers. * Indian companies are forging global joint ventures, expanding capacity, and aligning to international compliance norms. * Major US retailers are showing increased interest in Indian suppliers, with early discussions on bilateral trade deals further accelerating optimism. Moreover, in a bold move to uplift local industries, the Indian government has raised basic customs duties on imported toys from 20% to 60%, enforced mandatory BIS certification, and implemented stricter safety and quality norms to curb low-quality imports -- particularly from China, which accounted for over 70% of India's toy imports until recently. These efforts have already begun to yield results: * Toy imports have declined by over 70% between FY2018-19 and FY2023-24 * Toy exports have grown by more than 60% in the same period As the global toy supply chain undergoes a strategic shift, India is emerging as a serious contender in the international toy export market. With increased high-value exports, this year's Toy Biz International is a testament to the innovation and quality of Indian toy manufacturers who are meeting international standards and offering customized solutions," said Pawan Gupta, Official Spokesperson and Former Vice-President, the Toy Association of India (TAI). "The Indian toy industry is among the fastest-growing globally, expected to reach USD 3 billion by 2028, growing at a CAGR of 12% between 2022-2028. With tariff advantages, international outreach, and expanding exports to the US, Middle East and Africa, Indian manufacturers are increasingly seen as credible, scalable, and globally competitive partners. Our industry is stepping into a leadership role not just with volume, but with innovation and safety. India is now on the global radar for high-quality toy manufacturing," he added. Join us at the Toy Biz International 2025 to witness how India's toy sector is transforming challenges into global opportunities, backed by smart policy, growing demand, and a world-class manufacturing ecosystem. Event Details Dates: July 4-7, 2025 Venue: Pragati Maidan, New Delhi, India What to Expect at the Exhibition Exhibitor Profile: Indian manufacturers, contract producers, and suppliers Product Showcase: * Battery-operated toys * Educational & electronic toys * Board games, puzzles, and hobby kits * Dolls, plush toys, and craft toys * Ride-ons, cycles/tricycles, and outdoor games * Traditional Indian toys, babywear, and children's furniture About the Toy Association of India (TAI) The Toy Association of India (TAI) represents over 5,000 toy industry members and plays a pivotal role in promoting Indian toy manufacturing through trade shows, policy advocacy, and global partnerships. As a member of the Asian Committee of Toy Industries (ACTI), TAI upholds the highest standards of quality and compliance, aligning Indian toy makers with international benchmarks. For media queries, contact: Oshin Kharb (+91 8800672438)
