Last Updated on July 6, 2026 1:09 am by BIZNAMA NEWS
Goyal Calls on Toy Industry to Tap FTA Markets, Promote Sustainable Manufacturing
STAFF REPORTER / NEW DELHI
Union Minister of Commerce and Industry Piyush Goyal has set a bold “tenfold growth” ambition for the Indian toy sector, urging manufacturers to leverage the country’s network of Free Trade Agreements (FTAs) and modern manufacturing technologies to capture a larger share of the $120 billion global market.
Addressing the 17th Toy Biz International B2B Exhibition 2026 here, the Minister outlined a strategic roadmap focused on quality, innovation, and global market integration.
Bolstering Quality and Infrastructure
To facilitate global compliance, the government announced the establishment of modern testing facilities across key toy manufacturing clusters. These will be operated through the Bureau of Indian Standards (BIS) and the National Test House. Industry stakeholders have been asked to submit a “wish list” of necessary testing equipment to ensure domestic products meet stringent international safety and quality standards.
“Maintaining high standards is non-negotiable,” Mr. Goyal stated, noting that toy exports have surged 239% over the past four years, while imports have plummeted by 32%.
Technology and Manufacturing Excellence
The Minister underscored that the next phase of sector growth depends on technological maturity. He urged manufacturers to transition from traditional methods to advanced systems, including:
- CAD-CAM Integration: Adopting Computer-Aided Design and Manufacturing to enhance precision.
- CNC Machining: Utilizing modern machinery to improve production efficiency.
- Sustainability: Focusing on sustainable materials and developing a self-reliant ecosystem for domestic production of motors, electronics, dies, and moulds.
Global Market Access via FTAs
With the India-UK Free Trade Agreement set to become operational on July 15, and duty-free access already available across Europe and Australia, the Minister encouraged immediate exploration of these premium markets. He proposed that the industry utilize the government’s Export Promotion Mission to set up international warehousing and participate in global exhibitions.
Strengthening the MSME Ecosystem
Mr. Goyal reiterated that MSME status remains protected even as firms scale up, noting that export turnover is excluded from MSME classification metrics. He encouraged the Toy Association of India (TAI) to expand its footprint, noting that while the association currently represents 1,200 members, there are roughly 21,000 manufacturers nationwide who could benefit from a unified platform.
The government maintains its commitment to protecting the domestic market from unfair dumping via Quality Control Orders (QCOs), which the Minister compared to the evolution of India’s automobile sector—intended to foster a competitive, high-quality manufacturing environment.