INSUBCONTINENT EXCLUSIVE:
Officials said India imports toys worth around Rs 2,500 crore annuallyKolkata: More than one lakh retailers across the country will be hit
by a three-fold hike in duty, according to toy importers who went on strike on Saturday
per cent, saying that the step would support micro, small and medium enterprises (MSMEs), and promote local manufacturing.Protesting against
the move, the toy wholesalers of the city went on a one-day strike, contending that the import duty hike will result in the closure of
businesses and a spurt in unemployment."The 200 per cent import duty hike is a rude shock for the toy industry
It cannot be absorbed by the market as it will make the goods unaffordable for the masses.""We seek immediate rollback to the previous rate
We are protesting with a token one-day shutdown today (Saturday)," West Bengal Exim Association joint secretary Mohit Banthia said.The
wholesale market on Canning Street in the city wore a deserted look due to the strike.The toy importers and retailers will attempt to meet
Finance Minister Nirmala Sitharaman during her visit to the city on Sunday, Mr Banthia said.The country imports toys worth around Rs 2,500
crore annually, of which 75 per cent are from China, officials said.Of the Rs 2,500 crore worth of imports, Kolkata's share is Rs 130 crore,
