Support for toy manufacturing to continue through import duty and QCO measures
toy manufacturing in the country through import duties and quality control orders. Addressing journalists in New Delhi, Secretary, Department for Promotion of Industry and Internal Trade (DPIIT), Rajesh Kumar Singh said the proposal of having a PLI scheme on toys has been put on hold and a third-party audit of the white goods PLI will be conducted.
Responding to a query on the decision to put the toy PLI proposal on hold, he said, “Currently we are focused on getting these 14 PLI schemes up and running in a good way.
For the time being, the new PLI schemes are not being considered and we will focus on ensuring that these existing schemes get implemented well. Thereafter we’ll see.”
The centre is running PLI programmes worth Rs 1.97 lakh crore for 14 sectors where India aims for self-reliance.
These sectors include Mobile Manufacturing and Specified Electronic Components, Critical Key Starting Materials, Drug Intermediaries and Active Pharmaceutical Ingredients, Speciality Steel, and Automobiles and Auto Components among others.
Commenting on the third-party audit of the white goods PLI scheme, a senior government official said, “The Arun Jaitley National Institute of Financial Management will conduct the audit. They will be looking at the PLI scheme from all angles to assess whether the stated objective has been achieved.
We want to understand if there is a need for course correction.”
Instead of more such schemes, the focus has now shifted to non-PLI measures which have also borne fruit. An official statement said that Indian toy industry reported a 52% decline in imports and 239% rise in exports in fiscal 2022-23 compared with fiscal 2014-15.
This is an outcome of measures such as the higher customs and import
