Govt may announce formulation of policy for toys sector in Budget 2021

The government may in the Budget next week announce the formulation of a dedicated policy for the toys sector to boost domestic manufacturing, sources said. They said the policy will help in creating a strong ecosystem for the industry in the country and also attract startups. The commerce and industry ministry is already taking steps to promote domestic manufacturing of toys. It has come out with a quality control order for the sector and had also increased import duty last year on toys.The government may in the Budget next week announce the formulation of a dedicated policy for the toys sector to boost domestic manufacturing, sources said. They said the policy will help in creating a strong ecosystem for the industry in the country and also attract startups. The commerce and industry ministry is already taking steps to promote domestic manufacturing of toys. It has come out with a quality control order for the sector and had also increased import duty last year on toys.