India is trying to woo foreign filmmakers. Here’s how

The film festival, which will continue till November 28, opened with the British film, ‘Catching Dust’.

Thakur said IFFI this year has received a record 2,926 film submissions from 105 countries, three times more international submissions than last edition. More than 270 films will be showcased at the festival.

Hollywood actor Michael Douglas will be conferred with the Satyajit Ray Lifetime Achievement Award for Excellence in World Cinema. Douglas will accept the award on November 28.

The festival will also have over 20 ‘masterclasses’ and sessions with prominent filmmakers, cinematographers, and actors.

“This paradigm shift in incentivising film production serves as a testament to India’s commitment and support for artistic expression and reinforces our position as a preferred destination for cinematic endeavours,” he said.

At the Cannes film festival last year, Thakur had announced an incentives scheme for production of foreign films in India, offering a reimbursement of up to 30 per cent of their expenses incurred in India, capped at Rs 2.5 crore.

“The maximum incentive will now be up to 40 per cent of the expenditure incurred, with a raised limit of Rs 30 crore, exceeding 3.5 million dollars. You can also get an additional 5 per cent bonus for significant Indian content (SIC). So, we are pushing both — making films and also Indian content,” he said.

He also listed out the benefits of the Cinematograph (Amendment) Bill, 2023, recently approved by Parliament. “This legislation not only broadens the legal framework… but also introduces rigorous measures against piracy. Now, if anyone steals the work of our film stars or directors or producers, they will face imprisonment of 3 years and a fine ranging from Rs 3 lakh to 5 per cent of the film cost,” he said.

Drawing parallels between India’s Chandrayaan-3 mission to the scientific possibilities inspired by visionary works of art, Thakur said: “In 1902, long before space organisations were even conceptualised, a remarkable French film ‘A Trip to the Moon’ boldly suggested the idea of space travel… And today, we see it happening. India has done it successfully… The power of cinema is incredible and it is fascinating how these ideas shape our world,” he added.

Thakur also announced a new category of awards — Best Web Series (OTT) Category — to be introduced in the current edition of IFFI. “It is also being done because during Covid, when everything was shut, the OTT platforms provided entertainment to all. The sector is growing at 28 per cent,” he said.

Thakur said the Indian media and entertainment industry, with an annual growth rate of 20 per cent is the fifth-largest and most globalised industry in the world. “We are undertaking the project to restore and digitise over 5,000 old films and documentaries. If anyone in the world is doing this, it is Bharat,” he added.