Under a new initiative, the Ministry of Information & Broadcasting has announced a film promotion fund to India’s official entry to Academy awards under the foreign film category and to films that are officially selected for major international festivals.
The announcement was made by I&B Minister M. Venkaiah Naidu here on Tuesday at a press conference for the 47th edition of the International Film Festival of India (IFFI).
Financial assistance will be provided to filmmakers for promoting their films at international film festivals. The initiative will mainly take care of expenses such as engagement of publicist, travel of director, maker and key talent to make appearance at the red carpet and press meets, accommodation, screenings, advertising and networking.
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The proposed fund value for films being selected to represent India at Oscars is Rs 50,00,000/— to Rs 1,00,00,000.
The maximum amount for a filmmaker for the competition section of Cannes film festival is Rs. 20,00,000 while in Un Certain Regard and Director’s Fortnight the amount would be Rs 15,00,000 each.
If a filmmaker makes it to the ‘In Competition’ section of the Venice film festival, the amount would be to the tune of Rs. 15,00,000.
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For the Toronto International Film Festival and Busan’s new currents section, the value is Rs 10,00,000. For the window of Asian Cinema section of the Busan International Film Festival and Locarno International Film Festival, the amount is Rs 7,50,000.
Films going to festivals like Sundance, Rotterdam and Berlin also qualify for the assistance.
The step is a part of Government’s efforts towards promotion of Indian cinema in the international arena and especially help the independent filmmaker to promote their work.
Directorate of Film Festivals has been designated as the nodal agency for implementing this initiative.
The decision for providing the assistance would be based on recommendations of a panel of experts constituted by the government.