To increase exports, attract investments, and make local manufacturing competitive on a global scale, the government is trying to provide toys that comply with Bureau of Indian Standards (BIS) production-linked incentive benefits worth Rs 3,500 crore, an official said.
According to the official, the government’s actions, including the issuance of quality control orders and a rise in customs taxes from 20% to 60%, have reduced the amount of subpar imports and encouraged domestic production in the nation.
The idea is to provide incentives for the entire product rather than individual components because the toy sector still needs to import some essential components that are not produced in India.
India’s national standards body is called BIS. It creates and publishes Indian standards, executes conformity assessment programmes, recognises and manages conformity assessment laboratories, implements hallmarking, and runs programmes to increase quality assurance capacity.
India-made toys aren’t just sold to international companies; they’re also carving out a niche for themselves in the markets.
The government is considering expanding these benefits beyond toys to include other industries like bicycles, footwear, some vaccine ingredients, shipping containers, and specific telecom devices.
The Rs 35,000 crore PLI scheme is being proposed for expansion to several industries, including the toy industry.
The government has already launched the programme with an investment of about Rs 2 lakh crore for as many as 14 industries, including white goods, pharmaceuticals, textiles, food products, high efficiency solar PV modules, advanced chemistry cells, speciality steel, and automobiles and auto components.
The program’s goal is to make domestic manufacturing competitive on a global scale and to produce manufacturing world champions.
The PLI programme also seeks to increase India’s exports, improve efficiency, foster economies of scale, and make Indian manufacturing more competitive on a global scale while also luring investment in cutting-edge technology and core competencies.
