With the aim of making domestic manufacturing globally competitive, attracting investments and boosting exports, the government is working to extend Rs 3,500 crore worth of production-related incentive benefits to toys, which comply with Bureau of Indian Standards (BIS) norms.
Government measures for the toys industry, such as the introduction of quality control orders and an increase in customs duties from 20 percent to 60 percent, have resulted in reducing substandard imports and boosting domestic production, according to the official.
Toy PLI (production linked incentive) benefits will be extended to BIS-compliant toys only, now that we’re working on them. Depending on the investment slabs, PLI benefits can range from Rs 25 crore to Rs 50 crore or Rs 100-200 crore,” said the official.
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On the full product, offer incentives
Toys still require imports of certain components that are essential to making toys and are not manufactured in India, which is why the industry proposes to give incentives for the full product rather than components.
India’s national standards body is the Bureau of Indian Standards. Among its responsibilities are developing and publishing Indian standards, implementing conformity assessment schemes, recognizing and operating laboratories for conformity assessment, implementing hallmarking, and conducting quality assurance capacity building programs.
As well as supplying global brands, India-made toys are also creating their own niche in the world market.