India Slashes Toy Imports From China by 80% in 4 Years
Edited By WION Video Desk
Published: Dec 16, 2024, 05:05 IST | Updated: Dec 16, 2024, 05:05 IST
In just four years, India’s toy industry has made remarkable strides, cutting toy imports from China by a massive 80%. This was achieved through a strategic combination of high tariffs and strict quality control. Between 2020 and 2024, India raised customs duty from 20% to 70% and enforced the quality control order to ensure safety standards. As a result, Chinese toy imports fell from $235 million in FY20 to just $41 million by FY24.
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