Cannes / New Delhi / Mumbai | 18 May 2022
Shooting of foreign films in India got a new boost today, with the Union Minister for Information and Broadcasting Shri Anurag Thakur announcing two schemes to incentivize shooting of foreign films and foreign co-productions with India. 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.
The Minister announced these two schemes after inaugurating the India Pavilion at the ongoing Cannes Film Festival in France.
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 if they employ 15% or more manpower from 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 Shri 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 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.
Crediting India’s film restoration work for its scale Shri 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.
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