Source: The post is based on the article “India and Australia sign audio-visual co-production agreement” published in The Hindu on 11th March 2023.
What is the News?
India and Australia have signed an Audio-visual co-production agreement.
What is the purpose of the India-Australia audio-visual co-production agreement?
Under this agreement, private, quasi-government or governmental agencies of the two countries can enter into contracts to produce films together.
The agreement seeks to offer filmmakers financial incentives amounting to up to 30% of the expenditure incurred in the respective countries.
A third country can also participate in the co-production as a multilateral project, subject to conditions and limits laid down in the laws in force, between the party countries.
Significance of the agreement: Australia is the 16th country with which India has an audio-visual co-production agreement.
– India has such audio-visual co-production agreements with Italy, the United Kingdom and Germany, Brazil, France, China, and Bangladesh among others.
Note: India is fast emerging as a major content hub for film makers looking for new projects.
– India has established a Film Facilitation Office(FFO) to ease the process of film shooting in India. The FFO acts as a single-window platform for coordination with various states as well as bodies such as the Indian Railways and the Archaeological Survey of India among others.