Q. India and Australia have signed an Audio-visual co-production agreement. With reference to this agreement consider the following statements:
1.Under this agreement, governmental agencies of the two countries can enter into contracts to produce films together.
2.The agreement seeks to offer filmmakers financial incentives amounting to up to 30% of the expenditure incurred in the respective countries.
3.Australia is the first country with which India has signed the agreement.
Which of the statements given above are correct?

[A] 1 and 2 only

[B] 2 and 3 only

[C] 1 and 3 only

[D] 1, 2 and 3

Answer: A
Notes:

Explanation –

Statement 1 and 2 are correct. 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.

Statement 3 is incorrect. 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.

Source: ForumIAS