Promotion of Toy Industry in India
07 February 2023: Government of India has taken several steps to promote and develop indigenous toy industry. To cater to the design and innovation related needs of MSMEs including toy sector, the Ministry through its network of MSME Technology Centres works for design and development of tools, moulds, dies, jigs, fixtures, prototypes etc. Besides, Ministry of MSME is conducting various skilled development programmes for aspiring and existing entrepreneurs in accordance with the demands of industry to fill the gap of skilled workforce in the MSME sector including Toy Industry.
Further, a comprehensive National Action Plan for Toys has been formulated by the Government to promote designing of toys based on Indian values, culture and history, using toys as a learning resource, organizing hackathons, and grand challenges for toys designing and manufacturing, monitoring quality of toys, restricting imports of sub-standard and unsafe toys, promoting indigenous toy cluster, boost local manufacturing and incentivize toy manufacturers, etc.
To promote MSME sector including toy industry, 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 (PMEGP), margin money assistance upto 35% of project cost is being provided for setting up of a unit costing upto Rs.50 lakh for manufacturing sector and Rs.20 lakh in service sector. Under 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 11,749 artisans with an outlay of Rs.55.65 crore.