Film industry to gain from co-production accord with Brazil

New Delhi, June 5 (UNI) Brazil has become the fourth country after Italy, the UK and Germany to sign an audio-visual co-production agreement with India.

Now Brazilian companies would be able to work with Indian companies to outsource work in different spheres of film production including special effects, graphics and animation work.

The cost competitive post production sector of the film industry will stand to gain from the agreements.

Inter-governmental co-production agreements are usually umbrella agreement under which private, quasi-government or government agencies may enter into contracts to produce films together. Such films are treated as national films in both the countries.

Under the agreement with Brazil, producers from both the countries would get an opportunity to pool their creative/artistic/technical, financial and marketing resources to co-produce film and television programmes.

The chances of Indian locales being utilised for shooting raises the visibility of India considered approval of shooting destination.

With the liberalisation of shooting guidelines for the foreigner shooting films in India, there has been a marked increase in films being shot in India.

The Federation of Indian Chamber of Commerce and Industry (FICCI) report regarding the entertainment industry in 2004 indicated that the Indian Diaspora across Europe, Africa, West Asia, Latin America and North America is conservatively estimated at 20 million.

The end line export potential of the Indian film industry is linked to the effective reach of Indian films to these viewers.

The areement was signed between Minister for Information&Broadcasting and Parliamentary Affairs P R Dasmunsi and Mr Celso Amorim, Minister of External Relations on behalf of Federative Republic of Brazil.

The Ministry of Information&Broadcasting has an existing protocol on cinema with Government of France, signed in 1985, and it was under constant touch with Government of France to re-write the protocol/agreement as per today's requirement.

UNI