India Boosts Incentives for Foreign Film Production at the 54th IFFI; Madhuri Dixit Honored for Cinematic Contribution
Union Minister Anurag Singh Thakur Announces Progressive Initiatives and Recognitions
Goa, November 20, 2023: In a significant move to enhance India’s appeal as a preferred destination for international film production, Union Minister for Information & Broadcasting and Youth Affairs & Sports, Anurag Singh Thakur, declared an increase in incentives for foreign film production to 40% of incurred expenses, raising the cap limit to Rs.30 crore (exceeding 3.5 million US Dollars). The announcement, made during the inaugural address at the 54th International Film Festival of India (IFFI) in Panaji, Goa, includes an additional 5% bonus for Significant Indian Content (SIC).
Minister Thakur emphasized the necessity for a higher incentive to attract medium and large-budget international projects, positioning India as an expansive and promising hub for cinematic endeavors. The move reflects India’s commitment to artistic expression and its determination to support the global film industry.
In a special tribute, the 54th IFFI honored legendary actress Madhuri Dixit with the ‘Special Recognition for Contribution to Bharatiya Cinema’ Award. Minister Thakur lauded Dixit’s unparalleled talent, spanning four decades, and her enduring impact on the Indian film industry.
The Minister also unveiled a recruitment drive for the ’75 Creative Minds of Tomorrow,’ a program initiated in 2021 to provide a platform for youth to showcase their creative expression through cinema. Out of nearly 600 entries from 19 states, 75 young filmmakers have been selected, opening doors to limitless opportunities for their talents and career trajectories.
A new award category, the ‘Best Web Series (OTT) Category,’ has been introduced in this edition of IFFI to acknowledge the transformative role of original content creators in India. Minister Thakur highlighted the festival’s commitment to showcasing the latest innovations from the cinema world through the ‘VFX & Tech Pavilion’ and incorporating a documentary section into its co-production market.
This year’s IFFI will feature films from 40 remarkable women filmmakers, underscoring India’s commitment to women empowerment. Minister Thakur emphasized the festival’s guiding principle of inclusivity, with all venues equipped with facilities catering to the differently-abled and special screenings for visually and hearing impaired delegates.
Reflecting on recent legislative measures, Minister Thakur highlighted the approval of the Cinematograph (Amendment) Bill, 2023, by both the Lok Sabha and Rajya Sabha. The legislation broadens the legal framework beyond censorship to encompass copyright protection and introduces stringent measures against piracy.
In his concluding remarks, Minister Thakur envisioned IFFI as a driving force for peace, progress, and prosperity, drawing parallels between the power of cinema and scientific possibilities. He congratulated Michael Douglas for receiving the Satyajit Ray Lifetime Achievement Award for 2023 and expressed gratitude to the esteemed juries across various categories.
Minister Thakur’s vision extends beyond the current event, aiming for IFFI’s significance when India celebrates its 100th year of Independence in the transition from Amrit Mahotsav to Amrit Kaal.
