New Delhi, Feb. 1 -- Finance Minister Nirmala Sitharaman announced ambitious plans to transform India into a global toy manufacturing hub in her Union Budget Speech 2025-26.

The government unveiled a comprehensive scheme building upon the existing National Action Plan for Toys.

The new initiative aims to develop specialised manufacturing clusters and enhance skill development programs to create an ecosystem that supports the production of high-quality, innovative toys.

"Our focus will be on developing sustainable toys that proudly represent the 'Made in India' brand on the global stage," stated Sitharaman during her budget presentation.

In a significant move to boost domestic toy manufacturing, the government has revised customs duty ...