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Govt examining optical disc law to check piracy: Secy (I&B)

23
Nov '07
For a very long time films were also our best known exports. Though the audience have largely been the Indian disapora, we seem to be gradually developing audience among different cultures as well.

Signing of co-production agreements with other countries facilitates films production. Film co-production agreements have been signed with Italy, Germany, Brazil and UK.

Smt. Swarup said, discussions with the Government of UK for the Annex to the co-production agreement have come to conclusion and we are hopeful of signing this when the Prime Minister bilateral negotiations take place in January next year.

The Secretary said that the Foreign Direct Investment policy for the film industry which allows 100% FDI on the automatic route, coupled with professionalisation and corporation of Indian production houses is likely to attract large foreign investments in the fields of production, distribution and exhibition.

Compared to other parts of the world, the Indian industry has withstood the onslaught of foreign films rather successfully until now, and has grown substantially in size.

At present 18% annual rate of growth, the entertainment & media industry size is expected to reach rupees one trillion in 2011.

The share of the filmed entertainment industry, which is presently Rs. 84 billion is expected to reach Rs. 175 billion over the next five years at a cumulative annual growth rate of 16%.

She urged the film and entertainment industry to come forward with their suggestions for taking these sectors ahead and in enhancing their strong points.

Chief Minister of Goa, Shri Digambar Kamat in his remarks, appreciated the role of CII in highlighting Goa destination of IFFI. He further said, IFFI would help Goa in expanding his role in entertainment industry. Veteran film historian from Goa, Mr. B. D. Garga was felicitated at the event.

Press Information Bureau Government of India


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