The 54th edition of the International Film Festival of India is being held in Goa this year. Famous artists from all over the world have reached Goa to participate in this program. The main objective of the event is to provide a platform to the best performing filmmakers and film talents in world cinema. The organization of this program has started from 20th November and it will continue till 28th November. Information and Broadcasting Minister Anurag Singh Thakur made a big announcement at the inauguration ceremony on Monday, which was related to the shooting of foreign films in India.
Anurag Thakur’s announcement
Information and Broadcasting Minister Anurag Singh Thakur announced during the inauguration of IFFI on Monday that the incentive amount for foreign film production has been increased from 30 to 40 percent. ‘Incentive for foreign film production in the country will be 40 per cent of the spend with an increased cap of Rs 30 crore (over US$3.5 million) and an additional 5 per cent bonus for significant Indian content (sic), the minister said. Is. This step will further accelerate India’s efforts to attract medium and big budget international film projects to the country.
Why was this announcement made?
He said the announcement is also part of efforts to streamline foreign film production and ensure ease of doing business in India. India had announced an incentive scheme for the production of foreign films at Cannes last year, offering reimbursement of up to 30 per cent of the expenses incurred for film production in the country, limited to Rs 2.5 crore.
These people will get benefit
In this context, Anurag Thakur further said, ‘This paradigm shift in encouraging film production serves as a testament to India’s commitment and support for artistic expression and reinforces our position as a preferred destination for cinematic endeavours. Strengthens. He said that international productions which have been given permission for shooting by the Ministry of Information and Broadcasting and the Ministry of External Affairs (only for documentaries) after April 1, 2022 will be eligible for this incentive scheme.
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