India Used to Import Toys - Now It’s Exporting Millions!

For decades, India’s toy stores were stacked with imported products.

“Made in China” was the default label.

If you wanted high-quality toys, you had to pay a premium for international brands.

Local manufacturing was almost non-existent. But times are changing.

Today, India doesn’t just make toys for itself, but it ships them worldwide.

The country’s toy exports have jumped from $96 million in 2015 to $326 million in 2022.

More factories are opening, local brands are growing, and big global companies are setting up shops in India.

In 2024, India’s toy market stood at $1.9 billion, and with a 10% CAGR, it’s expected to hit $4.7 billion by 2033.

This shift didn’t happen overnight.

It was a mix of government intervention, changing consumer behaviour, and the rise of new-age toy brands.

And there’s no shortage of customers.

24% of India’s 1.44 billion population is under 14 - that’s a massive consumer base.

On top of that, disposable incomes are rising.

By 2030, 14 million Indians will enter the high-income bracket, while 140 million will join the middle class.

More money means more spending on quality toys.

The big turning point came in 2014 with Make in India.

This gave homegrown brands a real chance to grow.

Funskool, a partnership between MRF and Hasbro, expanded its production. Lego strengthened its presence, and Hamleys, under Reliance, doubled down on the Indian market.

At the same time, toy trends are shifting.

Parents want more than just fun, they also want the toys to serve an educational purpose.

STEM toys are booming as 50 million+ students embrace science and tech-focused curriculums.

Iot-enabled toys with Bluetooth and WiFi are gaining ground.

E-commerce platforms like Amazon and Flipkart are making high-quality toys accessible across the country, with one-day delivery in many areas.

Traditional categories still dominate.

Outdoor and sports toys hold 25-30% of the market.

Preschool toys, dolls, puzzles, and games each account for 10-20%. The government is actively building the industry.

Over 60 toy factories have been set up in Karnataka and Uttar Pradesh.

Strict Bureau of Indian Standards (BIS) regulations now cover 12,000+ companies, ensuring better safety and quality but adding cost pressure, especially for smaller manufacturers.

And India’s zero-duty trade deal with the UAE is giving exports a boost.

Of course, challenges remain.

China is still a strong competitor, with ₹60 billion worth of toys imported into India in 2024.

Digital screens are another hurdle, as mobile games and tablets compete for kids’ attention.

But traditional toys aren’t going anywhere - especially for younger children (0-8 years), who still prefer hands-on play.

Despite these challenges, India’s toy market is on a growth trajectory.

Companies like Funride Toys are redefining smart play, and even toy shopping is evolving - Hamleys x Swiggy is testing 10-minute toy deliveries.

What was once an import-driven market is now a booming export industry.

India has flipped the script. And this might just be the beginning.