Commerce Minister, Shri Piyush Goyal addresses the 17th Toy Biz International B2B Exhibition 2026 in New Delhi, citing 239% growth in toy exports and calling for tenfold expansion through quality, branding and global market access.
Union Minister for Commerce and Industry Piyush Goyal addressed the 17th Toy Biz International B2B Exhibition 2026, organised by the Toy Association of India (TAI) in New Delhi on July 4, 2026, highlighting the sector’s progress and setting out a roadmap for its global expansion. Goyal assured the industry that the government would establish modern testing facilities across toy manufacturing clusters through the Bureau of Indian Standards (BIS), the National Test House and other government and semi-government laboratories. He noted that toy exports have grown by 239% over the last four years while toy imports declined by 32%, and called upon the industry to aspire for tenfold growth in the years ahead. He cited the global toy market as being estimated at around USD 120 billion and described India’s 140-crore-strong domestic market as a major strength providing economies of scale. The exhibition brought together over 400 Made-in-India toy brands, more than 15,000 business visitors and participants from over 50 countries.
Goyal informed industry representatives that the India-UK Free Trade Agreement would become operational from July 15, 2026 and that zero-duty access is now available across Europe following the conclusion of the India-EU FTA. He noted that FTAs with GCC countries, Mexico, Brazil and Canada are expected to progress by the end of the year. He urged manufacturers to send business delegations to the 38 countries covered under India’s nine concluded FTAs and encouraged participation in overseas exhibitions, supported through the Export Promotion Mission. He proposed Centres of Excellence through a public-private partnership model, equipped with facilities for testing, product development, innovation and design. He also urged manufacturers to adopt CAD-CAM technologies and CNC machining to improve product quality, precision and efficiency, and to develop domestic capabilities in motors, electronics, dies and moulds. He noted that more than 50 toy clusters have been established across the country and that approximately 21,000 MSME units are associated with toy manufacturing, while the TAI currently counts around 1,200 members. Imports now account for only approximately Rs 2,500-3,000 crore of an approximately Rs 18,000 crore domestic toy market, with the remaining demand met by Indian manufacturers.
Source: Press Information Bureau (PIB)
