US tariffs on Chinese imports: Domestic toy makers keen to leverage 'golden opportunity'

India's toy exporters are aiming to utilise a "golden opportunity" emerging out of the steep tariffs imposed by the US on Chinese imports, and growing enquiries from American buyers eyeing alternative markets to reduce their reliance on Chinese goods.

Toy Association of India has identified about 40 firms with the potential to export to the US market while meeting the compliance requirements.

Currently, about 20 companies export toys in bulk to the American market, President Ajay Aggarwal told PTI.

"We are getting more enquiries from US-based toy buyers in the last one month. Some Indian export houses have also got in touch with us seeking a list of the manufacturers who can make toy products as per US rules and regulations. They are looking for white labelling and original equipment manufacturers capable of meeting the compliance requirements of the American toy market," Aggarwal said.

According to GMI Research, the United States' toy market size touched USD 42.8 billion in 2024 and is estimated to reach USD 56.9 billion in 2032, growing at a CAGR of 3.6 per cent from 2025-2032, fuelled by a shift in consumer preferences towards educational and interactive toys.

"The US is a big market for toys and we will be benefited if China is subjected to high tariffs and India is on a low tariff.

"Already about 20 companies from India in the toy sector are exporting to the US in bulk. If we get the benefit of tariff in terms of the rates being lower than other countries, we can increase the presence of Indian toys in the US market," the Toy Association of India President said.

The association is organising a seminar "very soon" with the manufacturers who are ready to export to the US market, he said, adding that this is "a golden opportunity for Indian toy manufacturers as the US is the biggest toy market in the world".

Aggarwal said with the support of the government, the domestic toy industry will be able to increase its exports which currently stand at less than 1 per cent globally.