India’s toy industry made rapid strides between FY15 and FY23 with exports increasing by a whopping 239 per cent and imports declining by 52 per cent, resulting in the country becoming a net exporter. A mandatory requirement of the Bureau of Indian Standards (BIS) approval for the sale of toys in India, protectionism, China-Plus-One strategy and an increase in basic customs duty to 70 per cent have led to a boom in India's toy industry. According to industry players, while global brands like Hasbro, Mattel, Spin Master, and Early Learning Centre depend more on the country for sourcing, major manufacturers like Italian major Dream Plast, Microplast, and Incas are gradually shifting focus to India from China (ICE NEW DELHI)

Fonte notizia: The Business Standard