NEW DELHI: Make-in-India initiative of Prime Minister Narendra Modi's government has yielded positive results for the toy sector in the country with imports down by 70 per cent while 61 per cent surge in exports in the last three years, the government data showed on Tuesday.
For HS Codes 9503, 9504, and 9505, the value of import of toys in India fell from $371 million in the financial year 2018-19 to $110 million in the financial year 2021-22, showing a decline of 70.35 per cent. For the HS Code 9503, toy imports have decreased even faster, from $304 million in FY 2018-19 to $36 million in FY 2021-22 for HS Code 9503, according to data released by the Ministry of Commerce and Industry.
