The central government is taking various measures to increase exports and reduce imports.
We import large quantities of crude oil and gold.
It is very challenging to impose restrictions on the import of such essential goods.
But the central government recently found out that we are importing a lot of products that we could have produced locally.
A consequent initiative was the restriction of toy imports.
The toy trade plays a major role in global trade.
We were importing large quantities of toys from China.
About three years ago those imports were heavily restricted.
At the same time domestic production of toys was encouraged.
Especially in Karnataka, a toy park has been developed with an investment of 5000 crores and the work is going on in full swing.
The effect is visible now.
In these three years, toy imports have decreased by 70 percent.
At the same time, toy exports rose by 60 percent.
Especially for wooden toys and handmade toys etc. we have the opportunity to export at least 100 to 150 percent profit.
The reality is that the central government is now leading the way to take advantage of this opportunity.
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