- Government of India relief for making foreign films in India
- The Government of India has increased the incentive amount for film production to 40 percent
- Anurag Thakur announced at the International Film Festival
Union Information and Broadcasting Minister Anurag Thakur has increased the incentive amount for the production of foreign films in India. It announced to increase incentives to produce foreign films and raise the limit on reimbursement of expenses incurred in the country.
Up to 30 percent incentive available first
Importantly, the central government launched an incentive scheme for the production of foreign films in India last year at the Cannes Film Festival. It offered reimbursement of up to 30 percent of the expenses incurred in the country with a cap of 2.5 crores. Anurag Singh Thakur said the incentives for foreign film productions will now be increased to 40 percent, reflecting India’s commitment and support for artistic expression.
30 crore will be the maximum limit
Union Information and Broadcasting and Youth Affairs and Sports Minister Shri Anurag Singh Thakur said that India will encourage foreign films to be made in the country. For this, the incentive amount will be increased by 40 percent of the film production cost. It may be mentioned that the maximum limit will be up to 30 crore rupees. There will also be an additional bonus of five percent for the Indian subject. This was said in the inaugural address of the 54th International Film Festival of India in Panaji, Goa. Anurag Thakur further said that considering India’s size and huge potential, higher incentives are needed to attract medium and large budget international projects to the country. He said that this paradigm shift in promoting film production serves as a testament to India’s commitment and support for artistic expression and strengthens our position as a preferred destination for cinematic endeavours.