ANI
18 May 2022, 19:25 GMT+10
By Payal MehtaCannes [France] (ANI): In a major step to enhance India's stature as an international film-making destination, Union Information and Broadcasting Minister Anurag Thakur on Wednesday announced an incentive scheme for the audio-visual co-production and shooting of foreign films in India with a cash incentive of up to 30 per cent and a cap of USD 260,000.
The Minister made the announcement at the inauguration of the India Pavilion at the 75th Cannes Film Festival.
"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 USD 260,000," the minister 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 USD 65,000 for employing 15 per cent or more manpower in India," the minister said.
Prime Minister Narendra Modi had on Tuesday expressed happiness at India's participation as 'Country of Honour' at this year's Cannes Film Festival.
In a message, the Prime Minister had said that India truly possesses immense potential to become the 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.
Anurag Thakur on Tuesday led the largest-ever Indian official delegation of eleven celebrities walking together on the inaugural event at Cannes Film Festival. Mame Khan became the first ever folk artist to open a Red Carpet for Indian contingent. (ANI)Get a daily dose of Dallas Sun news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Dallas Sun.
More InformationEVERGLADES, Florida: Over the weekend, a diverse coalition of environmental activists, Native American leaders, and residents gathered...
BEIJING, China: China's national soccer team may struggle to stir excitement, but its humanoid robots are drawing cheers — and not...
]LONDON, U.K.: A World Health Organization (WHO) expert group investigating the origins of the COVID-19 pandemic released its final...
DOVER, Delaware: California Governor Gavin Newsom has taken legal aim at Fox News, accusing the network of deliberately distorting...
FRANKFURT, Germany: Germany has become the latest country to challenge Chinese AI firm DeepSeek over its data practices, as pressure...
TORONTO, Canada: Harvard University and the University of Toronto have created a backup plan to ensure Harvard graduate students continue...
NEW YORK, New York - Global stock indices closed with divergent performances on Tuesday, as investors weighed corporate earnings, central...
TORONTO, Canada: Canadian Prime Minister Mark Carney announced late on June 29 that trade negotiations with the U.S. have recommenced...
Vancouver, Canada: A high-stakes legal showdown is brewing in the world of athleisure. Lululemon, the Canadian brand known for its...
LONDON, U.K.: British oil giant Shell has denied reports that it is in talks to acquire rival oil company BP. The Wall Street Journal...
NEW YORK, New York - U.S. stock markets closed firmly in positive territory to start the week Monday, with the S&P 500 and Dow Jones...
WASHINGTON, D.C.: On Friday, President Donald Trump announced that he was halting trade discussions with Canada due to its decision...