Toy imports into the Indian market has been decreased by 70 percent in the last three years, although the exports have been increased by 61 percent, which marks a positive result for the Indian trading sector.
The import of toys to India has decreased around 371 million in the financial year 2018-19 to 110 million in the financial year 2021-22. Accordingly, this has showed a fall of around 70.35 percent in the trading sector. For the HS Code 9503, toy imports have reduced by 304 million in the financial year 2018-19 to 36 million in the year 2021-22.
This can boost the domestic toy industry to work on big ideas and to further push the manufacturing and exports from the country.
Trading is one of the most important economic area in our country. Also, it is one of the largest industry in India. Consequently, trading sector has the power to influence the global market, which can directly affect on the country’s economy.
