India’s toy exports up at USD 326.63 million in FY22: Centre

New Delhi: India exported toys worth USD 326.63 million in financial year 2021-22, up from USD 96.17 million in 2014-15, while the import of toys to India has decreased from USD 332.55 million in 2014-15 to USD 109.72 million in 2021-22, Union Minister of State for MSME Bhanu Pratap Singh Verma said in a written reply in Lok Sabha. He noted that the central government has taken several steps to restrict import of sub-standard and unsafe toys and to promote domestic toy industry. As a result of various steps taken by the government, the volume of import of toys into the Indian market has shown a consistently decreasing trend, read a statement from the ministry. He further stated that to promote MSME sector including toy industry, the Ministry of MSME is implementing various schemes for providing credit support for new enterprise creation, technology upgradation, skill development and infrastructure development. Under Prime Minister’s Employment Generation Programme (PMEGP), margin money assistance upto 35 per cent of the project cost is being provided for the unit costing upto Rs 50 lakh for manufacturing sector and Rs 20 lakh in the service sector. Under the Scheme of Funds for Regeneration of Traditional Industries (SFURTI), assistance is provided for creation of Common Facility Centres with latest machines, design centres, skill development, etc. A total of 19 toy clusters have been approved under the scheme benefitting 11749 artisans with an outlay of Rs 55.65 crore, he added. Read all the Latest News , Trending News ,  Cricket News , Bollywood News , India News and Entertainment News here. Follow us on Facebook, Twitter and Instagram.