Toy imports drop by 70 pct in India during past 3 years

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Toy imports drop by 70 pct in India during past 3 years

STORY: Toy imports drop by 70 pct in India during past 3 years DATELINE: July 7, 2022 LENGTH: 0:01:32 LOCATION: New Delhi CATEGORY: ECONOMY SHOTLIST: 1. various of the India gate 2. various of the market and the toy shop 3. various of the traffic STORYLINE: India's toy import has decreased by 70 percent in the last three years, while exports have gone up by 61 percent, officials said on Wednesday. According to the Ministry of Commerce and Industry, for HS Codes 9503, 9504, and 9505, the import of toys to India has reduced from 371 million U.S. dollars in FY 2018-19 to 110 million U.S. dollars in FY 2021-22, thus showing a decrease of 70.35 percent. "For the HS Code 9503, toy imports have decreased even faster, from 304 million U.S. dollars in FY 2018-19 to 36 million U.S. dollars in FY 2021-22," the ministry said in a statement. The Harmonized System (HS) code is a standardized numerical method to classify export trade products by customs authorities around the world. The ministry said duri

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