The Hindu BusinessLine: February, 2014
New Delhi: The Indian and Canadian Governments on Monday signed an audio-visual co-production deal. The deal was signed by Secretary in the Ministry of Information and Broadcasting Bimal Julka and the Canadian High Commissioner Stewart Beck.
In a statement, the I and B Ministry said the agreement would benefit producers from both the countries in pooling their creative, artistic, technical, financial and marketing resources for co-productions and lead to exchange of art and culture among the two countries.
The agreement is also expected to boost the utilisation of Indian locales for shooting and increase the visibility and prospects of India as a preferred film shooting destination and will lead to the inflow of foreign exchange into the country. “The agreement will also lead to the transparent funding of film production and boost export of Indian films into the Canadian market,” it added.
Similar agreements have been signed with Italy, the UK, Ireland, Germany, Brazil, France, New Zealand, Poland and Spain.
Under this agreement, films qualify as a national production in each of the partner nations and offer benefits such as government financial assistance, tax concessions and inclusion in domestic television broadcast quotas.