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India to provide increased incentive for foreign film production
India boosts incentives for foreign film production to 40 percent of expenses, headlining the 54th International Film Festival of India in Goa.
Anurag Singh Thakur / Image - Ministry of Information & Broadcasting
The Union Minister for Information and Broadcasting and Youth Affairs and Sports, Anurag Singh Thakur, announced that the government would offer a new set a incentives for foreign film production. The minister made the announcement during his inaugural address at the 54th International Film Festival of India (IFFI) in Panaji, Goa
The incentives have been increased to 40 percent of the expenses incurred, with the cap limit raised from $300,000 to $3.6 million. Through these measures, the government aims to attract medium and big-budget international projects to propel India as a preferred destination for cinematic endeavors.
Furthermore, Anurag announced a recruitment drive for the '75 Creative Minds of Tomorrow,' opening doors for young filmmakers selected in its third edition. Started in 2021, the initiative aims to provide a platform for showcasing creative expression through cinema.
Highlighting inclusivity as a guiding spirit, Thakur mentioned the introduction of a new category of awards, the showcasing of films from 40 remarkable women filmmakers, and the commitment to accessibility for differently-abled individuals.
Thakur said, “All venues for this year's festival will be equipped with facilities catering to the differently abled. There will be four additional special screenings for visually and hearing impaired delegates with embedded audio descriptions and sign language provisions.”
The Minister congratulated Hollywood actor and producer Michael Douglas for receiving the Satyajit Ray Lifetime Achievement Award for 2023 and Indian actress Madhuri Dixit, for receiving the ‘Special Recognition for Contribution to Bharatiya Cinema’ Award.
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