- विज्ञापन -
Bengaluru: Union Minister of Commerce and Industry, Piyush Goyal, announced that new policies aimed at enhancing the manufacturing of toys and footwear in India will be introduced soon, with the goal of positioning the country as a global leader in these sectors.
During his address at the Invest Karnataka 2025 – Global Investors Meet in Bengaluru on Wednesday, Goyal highlighted the government’s successful initiatives in the toy industry, noting that toy imports have decreased by 50%, while exports have increased by 3.5 times compared to five years ago. He stated, “We will soon unveil policies to further promote manufacturing in toys and footwear, aiming to establish ourselves as global champions in these areas.”
The Minister also underscored the government’s commitment to advancing high-tech manufacturing in India, revealing that approximately Rs 2 lakh crore has been allocated under the Production-Linked Incentive (PLI) scheme, along with Rs 74,000 crore for the Semicon Mission. These initiatives are designed to bolster industries such as electric mobility, auto components, semiconductors, and textiles, which are significant sources of employment.
Goyal emphasized Karnataka’s vital role in India’s economic progress and the importance of collaboration between central and state governments to meet development objectives. He mentioned, “We are focusing on establishing global capability centers throughout the country, with Bengaluru being home to many and more expected in the coming years.”
He reiterated Prime Minister Narendra Modi’s vision of Viksit Bharat 2047, which aims to transform India into a developed nation by 2047. Additionally, the Minister discussed how government initiatives, including the PLI scheme, are aiding startups, MSMEs, and the manufacturing sector, which are anticipated to drive economic growth and help India emerge as a global manufacturing hub.
The Invest Karnataka 2025 event gathered prominent industry leaders, investors, and policymakers to explore investment opportunities and strategies for enhancing economic development in the state and nationwide.
