As per PTI, India is mulling increasing the incentives offered to international production houses for filming in the country and also grant one-off perks for big-ticket films.
PTI’s report highlighted that last year, the government unveiled an incentive scheme for audio-visual co-production where the Indian co-producer can claim a cash reimbursement of up to 30 per cent on qualifying expenditure in India, subject to a maximum of Rs 2 crore. Information and Broadcasting Secretary Apurva Chandra on Tuesday said the government is considering increasing the quantum of incentives as it realised that other countries are offering more attractive perks for filming.
As per PTI, at the CII Summit FX–4th Global AVGC and Immersive Media Summit, Chandra said, “We will reveal the quantum of increase shortly, the proposal is under consultation within the government.” Chandra said the government received six to seven applications from producers to film in the country under the incentive scheme but expressed displeasure that the initiative was not known to those in the animation and visual effects industry. The government was also considering hosting a separate international animation film festival soon.
He added, “To encourage the animation sector, the government, as an initia . effort, will have a segment dedicated to the fast-emerging sector at the International Film Festival of India in Goa”. Chandra also said that animation, visual effects, gaming and comics (AVGC) formed 20 per cent of the media and entertainment sector in the country and was growing fast.
PTI also shared that film production markets such as the US, Canada and the UK offer programmes at the national level as well as state and provincial levels. Emerging markets such as Middle East and Africa — the UAE, Jordan, Morocco and South Africa — have started deploying production incentives to jump-start local content development, given markets there are still nascent.