Foreign Film Production Incentive Announced

  • By Union Minister for Information & Broadcasting and Youth Affairs & Sports Shri Anurag Singh Thakur.
  • India will increase the incentive for foreign film production to 40 % of the expenses incurred with an increased cap limit of Rs.30 crore (exceeding 3.5 million US Dollars).
  • Earlier, the per-project cap for the incentives was only Rs 2.5 Crore.
  • An additional 5% per cent bonus for Significant Indian Content (SIC) was announced.
  • Announcement of the recruitment drive for the young minds who were selected in the ’75 Creative Minds of Tomorrow.
  • The ’75 Creative Minds of Tomorrow, ‘was born in 2021 to provide the youth with a platform to showcase their creative expression through the medium of cinema.
  • The Minister announced a new category of awards – Best Web Series (OTT) Category.
  • Hollywood Actor/Producer Michael Douglas has been conferred the prestigious Satyajit Ray Lifetime Achievement Award for 2023.
Posted in Current Affairs.