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Which countries are signed an audio-visual co-production agreement on 10th March 2023?
A)
India and France
B)
India and Germany
C)
India and Russia
D)
India and Australia

Correct Answer :   India and Australia


India and Australia on Friday (10th March 2023) signed an audio-visual co-production agreement that seeks to offer filmmakers financial incentives amounting to up to 30 per cent of the expenditure incurred in the respective countries.

* The agreement was signed by Information and Broadcasting Secretary "Apurva Chandra" and Australian High Commissioner "Barry O’Farrell" during the ongoing visit of Australian Prime Minister Anthony Albanese to India.

* Australia is the 16th country with which India has a co-production agreement that would benefit mainly small filmmakers keen on shooting movies, web series, advertisements or carrying out post-production work or visual effects in that country.

* “For all qualifying projects, the international film production company can claim a payable cash incentive of up to 30 per cent on qualifying expenditure in India, subject to a maximum of Rs 2 crore,” Chandra told reporters here.

* Australia will also offer reciprocal benefits to Indian filmmakers shooting or engaged in post-production activities in that country.

* Chandra said in case of shooting of foreign films, a 5 per cent bonus, up to a maximum of Rs 50 lakh, as additional reimbursement would be granted for employing 15 per cent or more manpower in India.

* In addition to the incentives from the Centre, a number of state governments also offer concessions to foreign filmmakers.

* India announced incentive schemes for shooting foreign films and audio-visual co-production projects at the Cannes Film Festival last year.

* The incentive schemes came into effect from April 1 last year (2022) and at least 25 applications were received in the last six months.

* The government established a Film Facilitation Office (FFO) to ease the process of film shooting in India. The FFO acts as a single-window platform for coordination with various states as well as bodies such as the Indian Railways and the Archaeological Survey of India among others.

* Chandra said the Ministry of Information and Broadcasting has also engaged Invest India to run the FFO...

Source : The Print

Published On : March 13, 2023
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