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Union information and broadcasting minister, Anurag Thakur, on Wednesday said the government was ready to take the necessary steps to make India a global content hub.
Speaking from the India pavilion at the Cannes Film Festival in France, Thakur said India aimed to become a destination of the world for filmmaking, film production & post-production.
He then announced an incentive scheme for audio-visual co-production and shooting of foreign films in India with a cash incentive of up to 30% and a cap of $2,60,000.
“I’m delighted to announce today in Cannes an incentive scheme for audio-visual co-production and shooting of foreign films in India with a cash incentive of up to 30% with a cap of $260,000,” he said.
He also announced incentives to boost local employment.
“In the case of foreign films that will be shot in India, an additional bonus with a cap of $65,000 for employing 15% or more manpower in India,” Thakur said.
Prime Minister Narendra Modi had on Tuesday expressed happiness at India’s participation as the ‘Country of Honour’ at this year’s Cannes Film Market – the business side of the prestigious film festival.
In a message, the Prime Minister had said that India possesses immense potential to become a content hub of the world and the government remains steadfast in its efforts towards furthering ease of doing business in the film sector.
He had also said that from facilitating international film co-productions to ensuring single window clearance mechanism for permissions for filming across the country, India offers seamless possibilities to filmmakers of the world.
“Our spellbinding locations, technological prowess in film making and the talent of young men and women provide a perfect backdrop for film makers,” PM Modi had said.
On Tuesday, Thakur had led the largest-ever Indian official delegation of eleven celebrities to the inaugural event at Cannes. Mame Khan became the first ever folk artist to open a Red Carpet for Indian contingent.
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