Union Minister for Information and Broadcasting Anurag Thakur on Monday announced new incentive to attract more foreign filmmakers to shoot in India, as he inaugurated the 54th edition of International Film Festival of India (IFFI) in Goa.
The Minister intends to turn India into a shooting destination. Speaking about the same, he said, “We introduce the incentive scheme for production of foreign films in India, offering reimbursement of upto 30 percent expenses incurred in India, capped at Rs 2.5 crore.Today I announce increase in the incentive forforeign film production in India. The maximum incentive will now be upto 40% of the expenditure incurred with a raise, limit of Rs 30 crore exceeding 3.5 million dollars.”
He added, “An additional 5 percent bonus for Significant Indian Content (SIC). This step will give further impetus to India’s efforts to attract medium and big budget international film projects to the country.”Thakur lit the traditional lamp in presence of Goa Chief Minister Pramod Sawant, Union Minister of State for Information and Broadcasting L Murgan and Union minister Shripad Naik, among others, to mark the inauguration of the IFFI. Actors Madhuri Dixit, Shahid Kapoor, Pankaj Tripathi, Sunny Deol and filmmaker Karan Johar were present for the opening ceremony of the nine-day festival being held at different venues in the coastal state.
The Minister intends to turn India into a shooting destination. Speaking about the same, he said, “We introduce the incentive scheme for production of foreign films in India, offering reimbursement of upto 30 percent expenses incurred in India, capped at Rs 2.5 crore.Today I announce increase in the incentive forforeign film production in India. The maximum incentive will now be upto 40% of the expenditure incurred with a raise, limit of Rs 30 crore exceeding 3.5 million dollars.”
He added, “An additional 5 percent bonus for Significant Indian Content (SIC). This step will give further impetus to India’s efforts to attract medium and big budget international film projects to the country.”Thakur lit the traditional lamp in presence of Goa Chief Minister Pramod Sawant, Union Minister of State for Information and Broadcasting L Murgan and Union minister Shripad Naik, among others, to mark the inauguration of the IFFI. Actors Madhuri Dixit, Shahid Kapoor, Pankaj Tripathi, Sunny Deol and filmmaker Karan Johar were present for the opening ceremony of the nine-day festival being held at different venues in the coastal state.
