India s toy exports saw a slight decline to USD 152.34 million in 2023-24 from USD 153.89 million the previous year. Despite quality control orders, exports did not benefit much. GTRI Founder Ajay Srivastava suggested a more comprehensive strategy to develop the industry and boost exports.
It s the consumer and nations that pay the price. China s billion-dollar toy industry has inundated markets with cheaper toys and snubbed out local industries
On examination the officials found undeclared goods, misdeclaration in quantity and import without proper license. The approximate market value of goods was Rs 3 crore.
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