India targets 5 per cent share of global toy market by 2032

MUMBAI: India wants to stop just playing with toys and start playing in the big league. The government has set its sights on raising the country’s share of the global toy market to 5 per cent by 2032, up from the current 1.9 per cent, as it looks to position India as a leading manufacturing and export hub for the global toy industry.

Achieving the target will require a sharp increase in exports and stronger integration with global supply chains, with industry experts saying domestic growth alone will not be enough to secure a larger share of the international market.

To support the effort, the government has constituted a dedicated task force to identify measures that can strengthen domestic manufacturing and improve India’s global competitiveness. Commerce and Industry Minister Piyush Goyal announced the initiative during a stakeholder meeting with representatives from the toy industry.

The task force will focus on six priority areas integrating Indian manufacturers with global value chains, strengthening manufacturing capabilities, addressing supply chain bottlenecks, promoting design and innovation, creating skilled employment and improving the ease of doing business.

India’s toy manufacturing ecosystem has expanded rapidly in recent years. According to government data, the sector now comprises more than 21,000 MSMEs, over 770 DPIIT-recognised startups, around 50 toy clusters and more than 1,800 BIS-certified manufacturers.

Despite this progress, India remains a relatively small player in global toy exports. Industry executives cited in the report argue that Indian manufacturers must become more competitive internationally and participate more actively in global production networks if the country is to meet its 2032 ambition.

Addressing industry stakeholders, Goyal called for the development of a complete domestic manufacturing ecosystem supported by advanced technology, globally competitive quality standards, stronger branding and deeper localisation. He also stressed the importance of improving India’s integration with global value chains.

Alongside the task force, the government unveiled a Toy Sector Playbook, a roadmap intended to guide manufacturers, startups, investors and entrepreneurs. The document covers areas including manufacturing processes, regulatory compliance, product design, intellectual property, skill development and export opportunities.

Industry participants believe the next phase of growth will depend not only on meeting rising domestic demand but also on establishing India as a preferred sourcing destination for global toy brands. Greater manufacturing scale, improved infrastructure, stronger product design capabilities and enhanced export competitiveness are expected to play a decisive role.

With global supply chains continuing to diversify, India is hoping to turn a sector once dominated by imports into a globally competitive manufacturing story. The challenge now is ensuring that the country’s toy industry grows beyond its home market because in the race for the world’s toy shelf, the real prize lies far beyond the playroom.