On February 12, Union Commerce & Industry Minister Piyush Goyal revealed plans to introduce new policies aimed at boosting manufacturing in the toys and footwear sectors. He highlighted the significant progress made over the past few years, including a 50% reduction in toy imports and a 3.5-fold increase in exports compared to five years ago.

Speaking at the Global Investors Meet – Invest Karnataka 2025, Goyal expressed the government’s ambition to make India a global leader in both industries over the next two decades.

“We will soon roll out policies to further promote manufacturing in toys and footwear so that we can become a global champion in these sectors in the next 20 years,” Goyal stated in his keynote address.