India Targets 5% Global Market Share in Toys by 2032 with New DPIIT Task Force

The Union Minister of Commerce and Industry, Piyush Goyal, announced a new task force dedicated to accelerating the growth of India’s toy sector, aiming to secure a 5% share of the global toy market by 2032. Unveiled during the DPIIT’s "Team Up for Toys" stakeholder meeting in New Delhi alongside the release of a comprehensive "Toy Sector Playbook," the task force will focus on six core priorities. These include integrating into global value chains, boosting manufacturing capabilities, resolving supply chain bottlenecks, building a skilled workforce, fostering innovation, and simplifying business operations to help domestic companies, startups, and MSMEs expand globally. Emphasizing the industry's recent progress, the Minister highlighted the need for a self-sustaining domestic ecosystem anchored by advanced technology, local production, strict BIS quality standards, and strong branding. Supported by government initiatives such as cluster development programs and startup assistance, India's toy network has already expanded to encompass over 21,000 MSMEs, 770 recognized startups, and nearly 50 clusters. Moving forward, the strategy centers on attracting fresh investment, improving local supply chains, and positioning India as a world-class hub for toy design, manufacturing, and exports in line with the Viksit Bharat vision.