'Toyconomy': Has new regulation translated into growth for toy industry?

Fresh rules on product standards and a steep rise in basic customs duty have altered the dynamics of the industry but not necessarily to the benefit of small players

India is home to around 472 million children and 26 per cent of its population is below 15 years of age. This age cohort could soon be facing a shortage, not of any basic commodities but toys that remain an essential element of learning-by-play development, thanks principally to the Covid-19 pandemic and government regulations.

On January 1, India had banned the sale of toys that are not certified by the Bureau of Indian Standards (BIS). Now, all factories producing toys to be sold in India are required to be certified by the BIS and product testing has been made mandatory —