India Boosts Toy Exports 239% Amid Import Reduction

India's manufacturing sector is rapidly evolving with a strong emphasis on localization, entrepreneurship, and technological self-reliance, aiming to build a $1 trillion economy by 2025 through initiatives like 'Make in India 2.0' and 'Skill India'. The country's toy industry exemplifies this shift, moving from heavy reliance on imports to becoming a significant exporter, evidenced by a 239% increase in toy exports and a 52% decrease in imports over the past decade, aided by government policies such as increased tariffs and quality control measures. This transformation is supported by a growing domestic manufacturing ecosystem and government schemes, with events like Toy Biz 2025 and the Toy Show in Dhaka highlighting the sector's rising global competitiveness. Bangladesh's plastic toy sector is also experiencing robust growth, with exports increasing fivefold in six years, indicating a broader regional trend towards industrial diversification and export expansion. Meanwhile, the electronics sector sees geopolitical and economic complexities, as Apple plans to increase iPhone production in India to reduce reliance on China, though challenges remain, including U.S. political opposition and higher manufacturing costs if shifted to the U.S. These developments collectively underscore South Asia's ambition to strengthen manufacturing and export capabilities through strategic policy support and industrial innovation.