New Delhi: Information and Broadcasting Minister Anurag Thakur on Wednesday announced incentive and bonus for production of foreign films in India at the Cannes Film Festival 2022, reported news agency ANI.
A cash incentive of upto 30 percent will be provided for audio-visual and co-production of and shooting of foreign films in India, while additional bonus will be provided to foreign films shooting in India employing 15 percent or more manpower from India.
“I'm delighted to announce today in Cannes an incentive scheme for audio-visual co-production & shooting of foreign films in India with a cash incentive of up to 30% with a cap of USD 260,000,” Thakur said during inauguration of India Pavilion at 75th Cannes Film Festival.
“In the case of foreign films that will be shot in India, an additional bonus with a cap of USD 65,000 for employing 15% or more manpower in India,” he added.
The minister further said that India has started the world's largest film restoration project under the National Film Heritage Mission. “As part of this drive,2200 movies across languages will be restored to their former glory,” he said.
Thakur expressed India’s intent to be a filmmaking destination for filmmakers around the world and extended an open invasion to the International Film Festival of India, Goa 2022.
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"We'll do whatever we can to make India the content hub of the world & to make India a destination of the world for filmmaking, film production and post-production.I extend an open invitation to all to be part of IFFI Goa 2022,” he said.
The 75th annual Cannes film festival taking place in Cannes, France started on May 17 and will continue till May 28, 2022. Indian celebrities that will be present in the event include A R Rahman, Deepika Padukone, Aishwarya Rai, Nawazuddin Siddiqui, Urvashi Rautela, Hina Khan among others.