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There has been a felt need to identify and promote sectors which are inherently strong in Kerala but unable to grow due to lack of adequate finances.
The tourism and construction industry have been two such sectors but they have reached a saturation point in the state, Mr Yogesh Gupta says.
Here is where the Malayalam cinema industry offers itself up as a candidate, he adds.
Known for its realistic portrayal of relevant subjects in films with less commercial content, it has pioneered various technical, thematic and production techniques.
With well over 100 films being produced every year, the Malayalam film industry is the fifth largest in the country. It also dominates national awards sweepstakes during most years.
With no institutional finance available, producers here have invariably been left to the mercy of private financiers who charge exorbitant rates.
This is the rationale for the KFC initiative for the two new loan products unveiled here on Friday.
At the launch function, finance minister Mr K. M. Mani handed over a cheque of Rs 75 lakh to Ms Sandhya Rajendran and Mr Rajendran, producers of the upcoming film ‘Hide & Seek.’
It is being produced under the banner of Kalidasan International.
Prominent among those attending the function were Mr Anil V. Thomas, general secretary, Kerala Film Chamber; Mr Sasi Ayyanchira, general secretary, Kerala Film Producers’ Association; and Mr M. C. Boby, general secretary, Kerala Film Exhibitors’ Federation.
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