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Is India’s renewed focus on ‘Toyconomy’ enough to take on China?
Synopsis
A host of factors has given Indian manufacturers a lead in the domestic toys business. But as trade returns to pre-Covid levels, the government should look at PLI-like schemes to consolidate the position.
Sadar Bazaar in Old Delhi has a consistency about the way it hums. But one change is apparent on the streets of the busy market that offers all kinds of gifts and household articles at affordable prices: the cheap made-in-China toys have made way for Indian products.Most toy wholesalers say that due to a variety of reasons, the smuggling of substandard toys from China to India has reduced significantly in the past two to three years.“The market
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