New Delhi, May 18: With an aim to make India a favorite destination for foreign film makers, Union Minister for Information and Broadcasting Anurag Thakur today anounced two schemes to incentivize shooting of foreign films and foreign co-productions with India.
Thakur announced this inaugurating the India Pavilion at Cannes Film Market ‘Marche du Film’.
The two schemes viz Incentive Scheme for Audio-Visual Co-production and Incentive Scheme Shooting of foreign films in India are aimed at unleashing the potential of Indian media and entertainment industry.
Talking about the aspects of the incentives Shri Thakur informed that for official co-productions, international film production companies can claim a reimbursement of up to 30% on Qualifying Expenditure in India subject to a maximum of INR 2 crore. Foreign films shooting in India can claim an additional 5% bonus up to a maximum of INR 50 lakhs (USD 65,000) as additional reimbursement would be granted for employing 15% or more manpower in India. The schemes will provide an impetus to, global collaborations with India and attract investment from foreign film makers and help promote India as a filming destination, the Minister said. (Details of the scheme are in Annex 1 below)
Expounding the deep social roots of Indian cinema Anurag Thakur said that Creativity, excellence, and innovation in Indian cinema has developed hand in hand with sensitive treatment of subjects of social and national importance. “While reflecting the values, beliefs, and experiences of the Indian people, Indian cinema has also showcased their hopes, dreams and achievements. While being rooted in Indian culture, the Indian film industry has grown to acquire a universal character. And while preserving our age old stories, the Indian film makers are innovating in their art of storytelling through use of technology”, the Minister added. “Indian cinema is not only the story of a 6000 year old civilisation, not only the story of 1.3 billion tales but also the story of human talent, triumph and the trajectory of New India narrated through your lens” , the Minister remarked
“Bharat ka cinema, daurna chahta hai, udna chahta hai , , bass rukna nahi chahta”, paraphrasing a dialogue from the movie ‘Yeh Jawani Hai Diwaani’, Thakur said that through the beautiful journey Indian cinema has inspired global film makers and also been inspired by them and 2020s are the best time to make art and films in India, the Minister added.
Indian cinema is undergoing a paradigm shift as “Over the last few years, the streaming revolution has taken the country by storm, and the popularity of digital/ OTT platforms has changed how films are created, distributed and consumed. Consumers of global and Indian cinema have more choice than ever before”.
Speaking on the strong intent of Government to make India a favorite filming destination, Thakur said “We have a strong intellectual property regime, and the digital medium now complements the other more established modes of consumption and dissemination such as theatres and movies. This has brought about a democratisation of consumer choice like never before, and our government is intent on preserving this via support to the creative industries.”
Crediting India’s film restoration work for its scale Thakur said the Government has embarked on world’s largest film restoration project under the National Film Heritage Mission and as part of this drive, 2200 movies across languages and genres will be restored to their former glory.
Congratulating the India Pavilion Thakur said “India Pavilion is a feather in our cap and only with your Vishwas and Prayas today, it will become the pioneer of the Indian dream tomorrow.”
The Minister released the official poster of 53rd edition of International Film Festival of India at the India Pavilion.