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New Film Incentive for Foreign Films

Reporter 12
20 Nov, 2023

It’s lights, action, and movies as the 54th edition of the International Film Festival of India rolls out the red carpet to welcome a galaxy of celebrities, film fraternity, and cinephiles from across the country and the world. IFFI has emerged as a sought-after festival on the global festival circuit with a whopping 2926 film submissions from 105 countries this year, three times more international submissions than last year.

Delegates can indulge in a curated selection of more than 270 movies, 13 world, 18 international, 62 Asian, and 89 Indian premieres. 15 feature films (12 International and three Indian films) vie for the coveted Golden Peacock Award and 32 entries from 15 OTT platforms for the Best Web Series (OTT) Award.

Grand Opening

Every year, the opening ceremony gets bigger with a star-studded galaxy from across film fraternities in attendance. Highlighting the Government’s initiatives to catapult India as a global film destination, Union Minister for Information and Broadcasting Anurag Thakur announced a special incentive to invite big budget international film productions in India. Speaking to the packed house gathering at Dr. Shyama Prasad Mukherjee Indoor Stadium, he said, “The Government has raised the incentive to a maximum up to 40 percent of the expenditure incurred with the raised limit of Rs 30 crores exceeding USD 30.5 million.” An additional 5 percent for significant Indian content can also be availed.

Along with the facts and achievements of Indian cinema, the Minister’s speech was jewelled with anecdotes from films and shared how movies impact film culture. Quoting, Anand from the film with the same name, ‘Babumoshai, zindagi badi honi chahiye, lambi nah,’ he added that IFFI provides a cinematic experience that is nothing short but grand.”

Touching upon the impact of cinema on society, he cited how the film ‘A Trip in the Moon’ made in 1902 boldly suggested the idea of space travel and India realized their dream with the Chandrayaan-3 mission to the moon this year. “It shows how the idea that could be conceptualized during a movie, but over a period of time, the Government starts thinking towards that side,” he said.

Highlighting the many firsts at the 54th edition, he mentioned the focus on 40 women filmmakers at the festival. He elaborated on the 75 Creative Minds initiative that received 600 entries from across the country this year. In a bid to protect the intellectual property of the creative fraternity, he noted the recent Cinematograph Amendment Bill 2023 that broadened the legal framework, shifting focus beyond censorship but also introduced vigorous measures against piracy.

Chief Minister of Goa, Dr, Pramod Sawant, welcomed all delegates to, ‘Goa’s beautiful seashores and calm hinterland.’ Speaking of cinema as a universal language that transcends boundaries, he said ‘it unites hearts, evokes a multitude of emotions, and reflects our dreams, struggles, and aspirations. It also serves as a catalyst for change prompting us to question, aspire for a better world,’ he added. Highlighting his Government’s commitment to promoting film, he mentioned the Entertainment Society of Goa has floated an expansion of interest for the proposed film city in the State.

A first in the history of the festival, superstar Madhuri Dixit received a Special Recognition for her contribution to Bhartiya cinema. Sharing her memories onstage, she nostalgically recalled her first audition in Abodh for Rajeshree Productions.

Additionally, Bollywood stars Shahid Kapoor, Shriya Saran, Nushratt Bharucha, Pankaj Tripathi, Shantanu Moitra, Shreya Ghoshal, and Sukhwinder Singh added to the stellar showcase of India’s best talent. The stars will continue to descend throughout the festival with the esteemed presence of Hollywood superstars Catherine Zeta-Jones, Salman Khan, Vidya Balan, Ayushmann Khurrana, Vicky Kaushal, Siddharth Malhotra, Aditi Rao Hydari, AR Rahman, and Amit Trivedi.