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India’s Toy Industry
India has turned a net toy exporter lately—claimed as an evidence of the success of “Make in India” and related promotional policies. Analysing a unique, unit-level data set of formal and informal manufacturing and trade since 2000, the offi cial claims and policy outcomes are assessed.
The authors thank Radhicka Kapoor for her extremely valuable comments.
Recently, the toy trade figured in the news headlines. Between 2018–19 and 2021–22, toy exports reportedly rose from $109 million (`812 crore) to $177 million (`1,237 crore); the imports declined from $371 million (`2,593 crore) to $110 million (`819 crore), the official press release stated.1 Taking credit for arresting rising imports, the government sources claimed that it as the success of “Make in India,” in response to the Prime Minister’s clarion call given in his weekly talk show, Mann ki Baat, in August 2020. Inspired by the success, the government is reportedly now spawning a similar strategy for electrical fans and smart electrical meters (Business Standard 2022).
The call to raise toy production and exports is in line with Make in India—the government’s flagship initiative launched in October 2014. It aimed to boost manufacturing sector’s share in gross domestic product (GDP) to 25% (from about 15% in 2014) and create 100 million additional jobs by 2022.
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