Shooting of foreign films in India gets a boost as Anurag Thakur announces schemes
19 May 2022 13:51:31
New Delhi, May 19: India rolled out the red carpet for foreign filmmakers to make movies in the country by offering incentives up to Rs 2.5 crore for co-production & hiring local manpower in such ventures. Information & Broadcasting Minister Anurag Thakur made the announcement after inaugurating India Pavilion at Cannes Film Market - 'Marche du Film'.
A project with 'co-production' status from the I&B Ministry and from a country that is signatory to bilateral co-production treaties will be eligible for the incentives. International film productions that have received permission for shooting will be eligible for availing the incentives for hiring local manpower.
Under this incentive scheme, Indian co-producer of an international film project can claim cash reimbursement of up to 30% of qualifying expenditure in India or up to 2.6 lakh dollars (Rs 2 cr), Thakur said. Foreign films shooting in India can claim an additional 5% bonus up to a maximum of 65,000 dollars (Rs 50 lakh) for employing 15% or more manpower locally, he said.
The schemes will provide an impetus to global collaborations with India, attract investment from foreign filmmakers and help promote India as a filming destination, Thakur said.
A project with 'co-production' status from the I&B Ministry and from a country that is signatory to bilateral co-production treaties will be eligible for the incentives. International film productions that have received permission for shooting will be eligible for availing the incentives for hiring local manpower.
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Projects granted permissions after April 1, 2022 will be eligible for availing the benefits under the incentive scheme. He said Indian cinema was undergoing a paradigm shift with the streaming revolution taking the country by storm.