India's Toy Exports to Gain Momentum as UK, EU FTAs Unlock Zero-Duty Market Access

India's toy industry is set to witness a major export boost following the finalisation of free trade agreements (FTAs) with the UK and the European Union. The agreements will provide Indian toys with zero-duty access to these markets, where imports currently attract duties of around 5-6%. According to industry officials, the UK and EU together account for nearly 16% of India's toy exports, which stood at Rs. 2,928.87 crore (US$ 0.35 billion) in 2024. The India-UK trade agreement is scheduled to come into force on July 15, 2026, while the India-EU agreement is expected to be signed by December 2026 and implemented next year. Industry leaders believe these agreements will substantially improve the global competitiveness of Indian toy manufacturers and unlock significant export opportunities by reducing trade barriers and expanding market access.

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