The Hindu Business Line : Centre allots Rs 250 cr for film industry development

“The Indian film industry is the largest in the world in terms of ticket sales, and earnings, and is expected to grow at 25 per cent a year in value terms for the next four years.

Our Bureau

Chennai, Oct. 9

The Centre has allotted Rs 250 crore in the current Five-Year Plan for various development projects for the film industry. It funds will be utilised to set up a centre for excellence in animation, gaming and visual effects and a museum; to upgrade film institutes and create a corpus fund to finance film makers.

centre for excellence

According to Mr V.B. Pyarelal, Joint Secretary, Union Ministry of Information and Broadcasting, the centre for excellence in animation is aimed at bringing the skill gap in the film industry. It will also initiate a standard curriculum for animation courses. “The Government has conducted a feasibility study through PricewaterhouseCoopers, and earmarked Rs 50 crore to set up this centre through the public-private partnership mode,” said Mr Pyarelal.

Film institutes

Speaking at the inaugural session of a seminar on ‘Growing power of regional cinema’ here, organised by the Confederation of Indian Industry, he said over Rs 100 crore has been allotted for upgradation of film institutes. It will also introduce new courses such as production management and animation in at least two such institutes.

Growth value

Delivering the theme address, Mr L Suresh, President, South Indian Film Exporters Association, said, “Today, the Indian film industry is the largest in the world in terms of ticket sales, and earnings in Indian film industry is worth around $1.8 billion in 2006 (around Rs 7,500 crore). The industry is expected to grow at 25 per cent a year in value terms for the next four years to reach $4.5 to 5.1 billion (around Rs 20,000 crore) by 2011. He said that the export market for films from South India is growing exponentially and urged corporate houses to venture into this field.

In his keynote address at a session – Digitisation of Regional Cinema, Dr C. Chandramouli, Secretary – IT, Tamil Nadu Government, said digitisation of films is the key to check piracy in the market. The Government would even consider setting up a digital cinema studio in the State. Mr G. Dhananjayan, COO-Entertainment, Moser Baer Ltd, said producers must ensure that film rights, including satellite rights, are sold only for a period of six to seven years and not beyond. So that, the producers will get some revenue if the films were to be screened after that period, he said.