This year’s Cannes Film Festival isn’t just about showcasing the best of cinema from around the world. But it proves that it favors India’s cinematic values, beliefs and experiences by promoting, preserving and stimulating the Indian film industry. On May 18, 2022, Union Minister for Media and Broadcasting Anurag Singh Thakur inaugurated the ‘India Pavilion at Cannes Film Market’ Marche du Film.
Apart from this, to make India a preferred destination for foreign filmmakers, the minister also revealed two schemes to stimulate foreign film shooting and foreign co-production with India.
Plans stretched to unleash the potential of the entertainment sector
The opening of the Indian Pavilion saw the launch of two schemes:
Incentive Scheme for Audiovisual Co-Production: Union Minister Anurag Thakur has stated that for official co-productions, international film production companies can claim reimbursement of up to 30% of eligible expenditures in India up to a maximum of INR 2 crore. Foreign films shot in India can claim an additional bonus of 5% up to a maximum of INR 50,000 (US$65,000) in which additional compensation will be given for employing 15% or more of the workforce in India.
The eligibility criteria state that the project must have been granted “co-production” status by the Department of I&B and the participating State(s) under one of India’s formal bilateral co-production treaties on audiovisual co-production.
Incentive Scheme of Filming Foreign Films in India: Hereby, an additional bonus of 5%, up to a maximum of INR 50,000 (US$65,000), can be claimed as additional compensation and will be awarded for employing 15% or more of the workforce in India.
To take advantage of this scheme, international productions that have been granted permission to shoot by the Ministry of Information and Broadcasting and the Ministry of Foreign Affairs (for documentaries only) after 01.04.2022 will be eligible.
Addressing the event, the minister said, “Indian cinema is not only the story of a 6000-year-old civilization, not only the story of 1.3 billion tales but also the story of human talent, triumph and the path of a new India told through your lens.” He added, “We have a strong intellectual property system, the medium Digital now complements other, more established patterns of consumption and publishing such as theaters and films. This has democratized consumer choice like never before, and our government is determined to maintain this by supporting the creative industries”
The world’s largest restoration project begins in India
With the aim of preserving, restoring and digitizing our cinematic heritage, Union Minister for Media and Broadcasting – Anurag Singh Thakur announced, on the 5th of May 2022, that a decision has been taken on the largest film restoration project in the world under the National Film Heritage Mission.
Of the total expenditure of Rs 597 crore allotted to this task, Rs 363 crore has been exclusively placed for the restoration project which is set to commence entirely at the National Film Archives of India (NFAI).
It is noteworthy that under the mission of the National Film Heritage, approximately 2,200 films will be subject to restoration. The titles were shortlisted by language committees made up of filmmakers, documentary filmmakers, film historians, producers, etc. Apart from this, there are 5900 short films, documentaries and feature films underway in the restorations and this exercise carried out by NFAI has proven to be one of the biggest Restoration, preservation, preservation and digitization operations in the world.