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Statement C is incorrect; the recommendation is to increase the lifespan of electronic devices, not decrease. · India's toy exports decreased slightly to USD 152. 34 million in fiscal year 2023- 24, compared to USD 153. 89 million in the previous fiscal year, indicating a minor setback in growth despite quality control measures. · Toy imports increased to USD 64. 92 million in 2023- 24 from USD 62. 37 million the previous year, highlighting challenges in reducing trade deficits in this sector. · The Global Trade Research Initiative ( GTRI) suggests a comprehensive industrial development strategy to promote growth and boost exports in India's toy industry. · Enhancing the domestic ecosystem and attracting global toy companies to establish manufacturing bases in India are recommended to strengthen the industry. · Learning from China's successful toy industry model , India is advised to invest in R&D for enhancing innovation in toy design and functionality to increase global competitiveness. · Establishing specialized toy manufacturing hubs in India could significantly reduce costs and improve efficiency, boosting the sector's competitiveness. · Modernizing traditional Indian toys to maintain cultural value while appealing to global markets is seen as a potential strategy for unique product offerings. · Promotion and marketing initiatives , including supporting SMEs in online marketing and international fair participation, are crucial for expanding global presence and enhancing exports. · Encouraging international toy giants like Hasbro, Mattel, and Lego to set up production facilities in India could potentially transform India into a key player in global toy production. Reducing dependency on imports by developing local production capabilities for essential toy- making materials and components is emphasized to improve the self- sufficiency of the Indian toy industry.
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