India's toy box opens: Retail giants roll dice on direct sourcing

Walmart, Target have started sourcing Indian brands for the first time

The toy industry is no longer child’s play in India.

 

The country is not traditionally known for toy exports, but this financial year (2024-25) seems to be turning the tide. As part of the China Plus One policy, global retail giants like Walmart Inc and Target Corporation have, for the first time, started sourcing Indian toy brands, industry sources said.

 

Interestingly, Walmart plans to treble its sourcing from India to $10 billion by 2027, and the diversification into toys is seen as a step towards that goal.

 

This comes at a time when Finance Minister Nirmala Sitharaman, while presenting Budget