India and Portugal to work out co-production agreement for films
- Gold monetisation scheme: Make interest payments now, RBI tells banks
- Fund managers’ allocation to emerging market equities dips in October: BofA-ML
- Facebook must be prepared for the next election
- Grasim, Arvind line up new investments in Gujarat
- Congress expects to gain back its vote share in Andhra’s 2019 assembly polls
New Delhi: The information and broadcasting (I&B) ministry on Tuesday agreed to work out a co-production agreement in the film sector with Portugal, following a meeting between minister of state for I&B Rajyavardhan Rathore and Portugal minister of culture Luis Filipe Castro Mendes.
Both the countries will promote incentives for filming opportunities, exchange of media professionals and collaboration in film archiving.
According to a statement released by the I&B ministry on Tuesday, the agreement would be framed in a “time-bound manner keeping in mind the legal aspects of such an agreement.”
The statement added that a possibility of a memorandum of understanding between the public broadcasters of both the countries is also on the cards, in an effort to “seek cooperation in technical and content related matters.”
In September, the ministry had also decided to tie up with Bangladesh to facilitate the production of two films—a documentary film on the 1971 Bangladesh War of Independence and a movie to mark the 100th birth anniversary of the father of the nation, Sheikh Mujibur Rahman, in 2020.
Both the countries agreed to come up with a joint audio-visual co-production agreement and further facilitate free trade of films.
Recently, the government had also set up a film promotion fund, under which any movie selected in the competition section in any international film festival will be given financial aid, including India’s official nomination for the Academy awards. The aid will be given for promotional activities related to the film, the value of which will range from Rs7.5 lakh to Rs1 crore, depending on the stature of the film festival.
Additionally, the Portuguese prime minister will meet the entire film fraternity in Goa on 12 January. The meeting is being organized by the Federation of Indian Chambers of Commerce and Industry.