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regular-article-logo Friday, 22 November 2024

Govt to extend production-linked incentive benefits to toy industry

The proposal is to give incentives on full product and not on components as the industry still needs to import certain components which are key for this sector

PTI New Delhi Published 05.12.22, 03:18 AM
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The government is working to extend Rs 3,500 crore worth of production-linked incentive benefits to toys, which are compliant with the norms of the Bureau of Indian Standards, with the aim to make domestic manufacturing globally competitive, attracting investments and enhancing exports, an official said.

The official said the measures announced by the government for the toys industry like the introduction of quality control orders and increasing customs duties from 20 per cent to 60 per cent has helped in cutting down sub-standard imports and promoting domestic manufacturing in the country.

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“PLI benefits can be given according to different investment slabs which can range from Rs 25 crore to Rs 50 crore or Rs 100-200 crore,” the official added.

The proposal is to give the incentives on the full product and not on components as the industry still needs to import certain components which are key to make toys and are not manufactured in India.

India-made toys are not only supplied to global brands but they are also creating their own place in the global markets.

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