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Published 16:44 IST, February 1st 2025

India: A Global Hub For Toys? What Does It Mean

She emphasised that the government is focused on boosting India’s toy industry, with the goal of making the country a global hub for 'Toy' manufacturing.

Reported by: Deepak Agrahari
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Union Budget
India: A global Hub For Toys? What Does It Mean | Image: R Business/ ANI


As the Union Budget presentation progressed, Finance Minister Nirmala Sitharaman has outlined various policies and the future roadmap for the country. She emphasised that the government is focused on boosting India’s toy industry, with the goal of making the country a global hub for 'Toy' manufacturing.


Under the government’s special focus on the inclusive growth of MSMEs and making the industry more efficient, a series of measures have been announced for the toy sector, building on the national action plan for toys. A new scheme will be implemented with the aim of making India the global hub for toy manufacturing.


"Building on the National Action Plan for Toys, we will implement a scheme to make India a global hub for toys. The scheme will focus on development of clusters, skills, and a manufacturing ecosystem that will create high-quality, unique, innovative, and sustainable toys that will represent the 'Made in India' brand" Finance Minister said in her speech. 


India: The Fastest Growing Economy


Union Finance Minister Nirmala Sitharaman, while presenting the Budget, highlighted that India’s economy is the fastest growing among developing nations. She described the next five years as a unique opportunity to stimulate growth. This will be a “journey to unlock our potential for greater prosperity”. “Indian economy is fastest growing among all developing economies. We see the next five years as unique opportunity to stimulate growth,” she added. 


The government has earmarked significant financial support for the initiative, with funds directed towards research and development, infrastructure upgrades, and skill development for workers. The FM also indicated that the mission also includes a set of policy reforms aimed at simplifying regulations and attracting both domestic and foreign investments.

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Updated 16:44 IST, February 1st 2025