The Indian toy industry has made significant strides on the global stage, expanding its footprint to over 100 countries, including major markets like the US, UK, Germany, the Netherlands, Denmark, and even China. Embracing the digital age, the next frontier for Indian toy manufacturers lies in effectively harnessing online platforms to reach international consumers. This sentiment was echoed by a senior official of the Department for Promotion of Industry and Internal Trade (DPIIT) during a recent workshop held in New Delhi.

Organized by DPIIT, the workshop titled 'Workshop with Flipkart and Indian Toy Industry' brought together key stakeholders to chart a path for the continued growth of the Indian toy sector. The event aimed to foster collaboration between Indian toy manufacturers and e-commerce giant Flipkart, with a focus on leveraging emerging opportunities in the online marketplace to drive industry growth.

Sanjiv, Joint Secretary at DPIIT, highlighted the success of the Indian toy industry, citing increased exports, a robust manufacturing ecosystem, and reduced import dependence as key indicators of its progress. The workshop emphasized the potential of e-commerce platforms in boosting the Indian toy industry's growth trajectory.

Rajesh Kumar Singh, Secretary of DPIIT, underscored the government's commitment to nurturing the toy sector, identifying it as a champion sector with the aim of creating a global market for 'Made in India' toys. Singh emphasized a collaborative approach, breaking silos, and working closely with industry stakeholders to strengthen the sector.

The workshop, conducted in collaboration with Flipkart and Indian Toy Industry, provided domestic manufacturers with insights into online selling, empowering them to tap into the burgeoning 'Toyconomy'.

Industry estimates reveal a significant uptick in Indian toy exports, with a 239 percent increase recorded between 2014-15 and 2022-23, while imports declined by 52 percent during the same period. The industry's current market size stands at USD 1.7 billion, with projections indicating a substantial growth trajectory, expected to reach USD 4 billion by 2032, driven by a 10.5 percent annual growth rate.

The workshop served as a catalyst for collaboration and innovation within the Indian toy industry, paving the way for enhanced global competitiveness and positioning India as a leading player in the international toy market. With a concerted effort from both the government and industry stakeholders, the Indian toy sector is poised for exponential growth in the years to come.