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Despite a rise, India's toy exports are still 200 times lower than those of China

A major plan to subsidise the domestic toy industry would be announced by the Indian government very soon, significantly reducing China's market dominance. According to India Export Data, over the last three years, toy imports into India have dropped by more than 70%, whilst exports have increased by 61.3% during the same time.<br><br>

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Despite a rise, India's toy exports are still 200 times lower than those of China

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  1. DESPITE A RISE, INDIA'S TOY EXPORTS ARE STILL 200 TIMES LOWER THAN THOSE OF CHINA

  2. In the midst of the COVID-19 epidemic in August 2020, the Prime Minister Narendra Modi predicted that India may grow into a major hub for toys. In July 2021, he called on people to be loud for local toys and voiced sadness over the fact that roughly 80% of toys were imported, with millions of rupees flowing overseas. He stated in July 2022 that India's toy exports are expected to increase from $300-400 million to $2,600 million by India Export Data a growth that "no one could have envisaged, Along with the growth in exports, Mr. Modi also claimed that the import of toys, which formerly exceeded 3,000 crore rupees, has decreased by 70%, suggesting a reduction in India's reliance on imported toys, especially in China

  3. Indian Government subsidise domestic toy Industry With the support of a new government effort, Indian toymakers should be able to increase their production capacity and compete on a global scale, further reducing China's domestic market share. According to Ajay Aggarwal, president of the Toy Association of India, the Indian government will very soon unveil a Production Linked Incentive (PLI) scheme for the toy industry with a proposed budget of US$424 million. A major plan to subsidise the domestic toy industry would be announced by the Indian government very soon, significantly reducing China's market dominance. According to India Export Data, over the last three years, toy imports into India have dropped by more than 70%, whilst exports have increased by 61.3% during the same time. A million-dollar export of toys from India, country-wise. From $178 million in the same period of 2015 to $363 million in the same period of 2022, total exports are predicted to climb slightly. India's exports to the US rose from $44 million to $144 million, which was a major contributor to this expansion. The other popular destinations were the UK, Germany, Netherlands, and Canada. Also, get Indian Exporter data

  4. China Export Market for the toy Industry India's country-specific toy import is displayed in dollars. China was and is still India's biggest supplier of toys; however, imports have decreased from $300 million to $150 million in recent years. Other sources included the US, the Netherlands, Japan, Taiwan, Hong Kong, and Taiwan, but they were insignificant in comparison to China's share. In response to COVID-19 lockdowns and limitations, toy sales are rising globally at the same time as Mr. Modi has made repeated calls throughout the pandemic. According to India Export Data, Toy exports will increase by an astounding 32%, from $119 billion in 2020 to $158 billion in 2021.

  5. Once again, America played a significant role in this expansion. US toy imports increase by 44% from $36 billion in 2020 to $52 billion in 2021, as illustrated in chart 3. Compared to imports from the United States, the volume of toys imported into Germany, the UK, France, Japan, and Canada increased although at a lower rate. However, China continues to hold the title of the greatest exporter in the world and will supply the majority of the rising demand from the United States in 2021. China will export $101 billion worth of toys in 2021, outpacing Germany, the second-largest exporter in the world, which will sell $11 billion. Even while Chinese toy exports have increased recently and India's reliance on Chinese toys has decreased, the volume of exports is still modest and around 200 times lower than China's.

  6. The decision by India to restrict the import of toys from China will barely have any effect on the latter's export quantities. India was China's 26th-largest toy export market in 2021, yet it only made up 0.7% of total shipments to India Export Import Data. While the United States was primarily responsible for the most recent increase in toy exports from India, China supplied 77% of the country's toy requirements in 2021. India was the ninth largest source of toys in the US, but it only supplied 0.5% of the country's needs. Seair Exim Solutions provides the India Export Data, Export to India, and much more. It also provides you to obtain data on the top Indian exporters, HS Codes; India exporter trade data, India Export Data, Customs Data, Indian Exporter data, etc. If you have any related to India Export Import Data query. Please connect with our business professionals; they will help you to expand your business in the Indian trade market.

  7. THANK YOU E-mail info@seair.co.in Telephone +91-9999439844

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