Minister Anurag Thakur Unveils Plan for 35 Foreign Films in India

Union Information and Broadcasting Minister Anurag Thakur has announced a new incentive scheme to attract more foreign filmmakers to shoot in India. Anurag Thakur announced in Parliament on the 16th that by November 2023, 35 foreign film projects have been approved for production in India.

We have to make India a better place for the production of international films – Anurag Thakur

Anurag Thakur also informed the Parliament about the incentive schemes for the co-production of films in India and the production of foreign films under the Audio-Visual Co-Production Treaty, which is effective from 01 April 2022. Its objective is to make India a preferred destination for the production of international films. Along with this, it aims to generate employment and increase foreign exchange inflow into India.

What kind of benefit will India from the project?

Continuing his point, Anurag Thakur further said that this incentive scheme has been expanded and simplified to attract more international projects. According to the revised incentive scheme announced on November 20, 2023, all eligible projects of foreign film production and all films being made under the Audio Visual Co-Production Treaty can avail of a cash incentive of 30% on the eligible expenditure incurred in India. A 5% bonus can be availed if 15% or more Indian crew is employed during the live shooting of foreign films. Additionally, an additional 5% can be claimed for the shooting and post-production of a foreign film that has significant Indian content to promote Indian culture, talent, and tourist destinations. Anurag Thakur told Parliament that to attract big-budget international film projects, the maximum limit of this incentive has been increased from earlier Rs 2.5 crore to Rs 30 crore, while the maximum percentage of the incentive has been increased from 35% to 40%.

 

 

-Asna Zaidi

 

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