New Delhi, 04 July (H.S.): Union Commerce and Industry Minister Piyush Goyal on Saturday called upon Indian toy manufacturers to set an ambitious target of increasing toy exports tenfold over the next four years. He also indicated that negotiations for the proposed India-Canada Free Trade Agreement (FTA) are progressing positively, while stating that the India-Peru FTA is unlikely to be concluded in the near future.

Addressing the 17th Toy Biz International B2B Expo in the national capital, Goyal urged the domestic toy industry to aim for a significant expansion in exports and assured manufacturers that the government would not roll back the Quality Control Orders (QCOs). He also announced that modern testing facilities would be made available for toy manufacturing clusters across the country.

The Commerce and Industry Minister said the Indian toy sector has successfully transformed from being an importer of toys to becoming an exporter and is poised for even faster growth with new market opportunities expected through recently concluded Free Trade Agreements. He urged manufacturers to prioritise quality, safety and global standards to further strengthen India's position as a global hub for toy manufacturing and exports.

Speaking to reporters on the sidelines of the 17th Toy Biz International B2B Expo 2026, Goyal said there are several unresolved concerns in the negotiations with Peru, particularly regarding market access for certain products.

There are some concerns. There are several products where we cannot allow them market access. I do not think the FTA with Peru is likely to be concluded very soon, he said.

However, the minister expressed optimism regarding the proposed India-Canada Free Trade Agreement. He said an Indian delegation would travel to Canada on Monday for the next round of negotiations.

Goyal said, The FTA negotiations with Canada are progressing well. Our team is leaving on Monday for the next round of discussions. We are making every effort to finalise the agreement within the next six months.

The minister also announced that he would travel to Brussels on July 13 along with External Affairs Minister S. Jaishankar and Union Minister for Information and Broadcasting as well as Electronics and Information Technology Ashwini Vaishnaw to participate in the India-European Union Trade and Technology Council (TTC) meeting.

The proposed India-Peru Free Trade Agreement negotiations began in 2017. Although the global toy market is valued at around 120 billion US dollars, India's share currently stands at only about 0.2 to 0.3 per cent. However, India's toy exports have recorded strong growth over the past four years, reflecting the sector's expanding global competitiveness.

---------------

Hindusthan Samachar / Jun Sarkar