New Delhi: Citing the toy industry's vast growth potential, Finance Minister Nirmala Sitharaman on Tuesday said Indian manufacturers should aspire to capture at least a one-fourth of the global toy market share, which is estimated to reach USD 179 billion by 2032. India exports toys to 153 countries and their value reached USD 186 million in 2025-26, while imports have come down drastically by 71 per cent during 2019-26, she said in her address at the International toy exhibition here.
India's toy market is projected to reach USD five billion by 2034, while the global toy market is projected to reach USD 179 billion by 2032, she said.
"We are still aiming at only (USD) five billion by 2034. I think we are capable of doing a lot better. We have immense potential to capture; at least aim for one quarter of it (USD 179 billion). That's a big number, no doubt. But we should aim at higher. Our aspiration must be far greater to capture a significantly larger share of the expanding global market," the minister said.
Sitharaman said toy imports were earlier concentrated from one country, which was dumping a lot of their cheap goods that had safety issues and were not healthy for children. She also asked the industry to focus on scale and branding.