OPEN APP
Home / Industry / Media /  Cabinet approves India-Australia pact to promote co-production of films
Listen to this article

The Union Cabinet, chaired by Prime Minister Narendra Modi, on Wednesday approved the signing of an audio-visual co-production treaty between India and Australia with the view to promote co-production of films.

These are umbrella agreements under which private, quasi-government or governmental agencies enter contracts to produce films together. Audio-visual co-production treaties are enabling documents which facilitate co-production of films between two countries.

India has, so far, signed 15 audio visual co-production treaties with foreign countries. Australia has emerged as a preferred destination for shooting of Indian films. India is fast emerging as a major content hub for film makers looking for new projects. India has camera-friendly locations that are easy to shoot at, talent pool, relatively cheaper cost of production and post production, making it a favoured destination for foreign filmmakers.

As per the co-production treaty, the respective contributions of the producers of the two countries may vary from 20% to 80% of the final cost of co-production work. The proposed agreement will boost ties with Australia, lead to exchange of art and culture, showcase the soft power of our country and lead to generation of employment among artistic, technical as well as non-technical personnel engaged in audio visual co-production, including production and post production work, a government statement said. Utilization of India locales increases the prospects of the country as a preferred film shooting destination and will lead to inflow of foreign exchange into the country, the statement added.

In 2019, the ministry of information and broadcasting had met a delegation from Bangladesh, for agreements on movie co-production and content sharing.

The meeting had focused on the making of a feature film on the life and works of Bangladeshi politician and statesman Bangabandhu Sheikh Mujibur Rahman, to be directed by Shyam Benegal, written by Atul Tiwari, and co-produced by both countries.

Catch all the Industry News, Banking News and Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
More Less
Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Recommended For You

Trending Stocks

×
Get alerts on WhatsApp
Set Preferences My ReadsWatchlistFeedbackRedeem a Gift CardLogout