New Delhi, Feb. 27 -- India's toy industry is on a robust growth trajectory, with the potential to capture a larger share of the global toy market, which is projected to reach USD 179.4 billion by 2032, according to a report by Punjab National Bank (PNB).

The industry is undergoing a transformation driven by skill development, technology adoption, and quality improvements.

The Indian toy market, valued at approximately USD 1.5 billion in 2023, has received significant policy support from the government, strengthening domestic manufacturing and reducing import dependence.

The Union Budget 2025-26 has reinforced the importance of the toy sector through the announcement of the National Action Plan for Toys. This initiative aims to promote...