MUMBAI, May 19 (NNN-PTI) – India has unveiled a scheme to incentivise shooting of foreign films and foreign co-productions, with a view to unleashing the potential of domestic media and entertainment industry, the state-run Press Information Bureau said, yesterday.
As part of the scheme, international film production companies can claim a reimbursement of up to 30 percent, on qualifying expenditure in India, subject to a maximum of 260,000 U.S. dollars, the bureau said in a statement.
Further, foreign films shooting in India can claim an additional five percent bonus, up to a maximum of 65,000 U.S. dollars, as additional reimbursement, if they employ 15 percent or more manpower from India.
India has also been proactive in granting visa clearance to foreign filmmakers and their crew, with 3-4 weeks, compared to 5-6 months in the past, industry experts said.– NNN-PTI
