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breaking news Annual FDI doubles to $83 billion, toy export grows 636%


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Make in India, the government’s flagship program will end eight years on Sunday.

Make in India, the government’s flagship program will end eight years on September 25.

The initiative is an open invitation to potential investors and partners from all over the world to participate in the growth story of the “New India”.

To attract foreign investment, the government has put in place a policy in which most sectors are open to foreign direct investment (FDI) under the automatic route. FDI inflows into India amounted to $45.15 billion in 2014-2015 and have since reached record FDI inflows for eight years. The year 2021-22 recorded the highest FDI with 83.6 billion dollars. These FDIs come from 101 countries and have invested in 31 territories and states of the Union and 57 sectors in the country.

The Production Linked Incentives (PLI) program covers 14 key manufacturing sectors. It encourages domestic production in strategic growth sectors where India has a comparative advantage. These include strengthening domestic manufacturing, forming resilient supply chains, making Indian industries more competitive and boosting export potential.

The government has also launched a $10 billion incentive program to build a semiconductor, display and design ecosystem in India.

In 2018-2019, toys worth $371 million (Rs. 2960 crore) were imported into our country. Many of these toys are said to be unsafe, substandard, counterfeit and cheap. To combat the importation of poor quality and dangerous toys and to improve domestic toy manufacturing, several strategic interventions have been taken by the government.

Some key initiatives include increasing the basic customs duty from 20% to 60%, implementing the quality control order, mandatory testing of samples of imported toys, granting more 850 licenses from Bureau of Indian Standards (BIS) to domestic toy manufacturers, development of toy clusters, etc. Several promotional initiatives including The India Toy Fair 2021, Toycathon 2021 and Toy Business League 2022 have been carried out to promote indigenous toys to encourage innovation and new-age design to meet global demands. Import of toys in FY21-22 fell by 70% to $110 million (Rs 877.8 crore).

Simultaneously, the industry’s efforts led to an export of $326 million (Rs 2,601.5 crore) worth of toys in FY21-22, an increase of over 61% from 202 million dollars (Rs 1612 crore) of FY18-19. India’s toy exports recorded a phenomenal growth of 636% in April-August 2022 compared to the same period in 2013.


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