The Finance Minister on Saturday in the Union Budget 2025 announced that the government will implement a scheme to make India a global hub for toys. The scheme will focus on the 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.
Toy Industry Overview
China is estimated to account for about 70% of the global toy production. Its global toy exports have increased from $10 billion in 2003, holding a share of 30% in global exports to $83.3 billion in 2022, accounting for a formidable share of 65% in global exports of toys. China, Vietnam, and the United States are the top three toy exporters in the world.
As per toy exporter data, India’s toy exports for the fiscal year 2023–24 (FY24) dropped to $152 million, a slight decrease from FY23, primarily as a result of a decline in global demand. In FY22, toy exports were valued at $177 million, but in FY23, they were valued at $103.89.
The Government’s initiatives like mandatory quality control and increase in customs duty on toys helped the Indian toy manufacturers significantly and reduce dependence on China for imports.
Stocks to benefit
Ok Play India
OK Play India Limited founded in 1990 is engaged in manufacturing of Plastic Molded Toys, School Furniture, Playground Equipment, Infrastructure & Automotive Products, Point-Of-Purchase Products, and E-Vehicles.
The shares of Ok Play India closed at Rs 17.4 per share, around 4.7% higher than the previous close of Rs 16.6.
Brainbees Solutions Ltd
BrainBees Solutions Ltd, through its brand FirstCry, is a leading online retailer of baby and kids’ products. Its toys segment offers a wide range of educational and entertaining toys for children of all ages. The company focuses on providing high-quality, safe, and engaging toys from global and local brands.
The shares of Brainbees Solutions closed at Rs 501 per share, around 4.6% higher than the previous close of Rs 478.
Written By Adhvaitha Nayani
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