(a) whether the Government is aware of the emerging global markets for Indian films;
(b) if so, the details thereof;
(c) whether the Indian film makers are planning to tap newer overseas market in the US, UK and South East Asia; and
(d) the steps taken/proposed to be taken by the Government to extend needful support to such Indian film makers?
THE MINISTER OF STATE IN THE MINISTRY OF INFORMATION & BROADCASTING (DR. S. JAGATHRAKSHAKAN)
(a) & (b) Yes sir. The growing Indian diaspora around the world has created a market for Indian films overseas that continues to grow at a rapid rate. As per FICCI-KPMG Indian Media and Entertainment Report 2011 overseas theatrical revenue was estimated around Rs.660 Crores in 2010 and is expected to grow at a Compound Annual Growth Rate of 7.5 %. It is expected to reach Rs.670 crores during 2011. According to the Report, traditionally the US market followed by UK has been the major contributor to the overseas revenues for Indian films. However, in recent times, the Middle East territory which includes the UAE, is growing in importance.
(c) & (d) Recognising the potential of export of Indian films abroad, Government of India has taken several steps to encourage promotion of Indian films. They are as follows:
i) To promote Indian films, Government of India through its Plan Scheme “Participation in foreign Film Festival/Marketsâ€, encourages Indian companies and producers to participate in global film festivals and markets such as Cannes Film Festival/Market, American Film Market, MIPCOM, etc. Further, in order to promote cinema, Govt. of India is spreading awareness enhancing the visibility of our film industry by organizing Indian pavilions in number of film markets and screening of Indian films, in different International film festivals. Indian film festivals are also organized in various countries.
ii) Audio-visual co-production agreements have been signed with Republic of Italy, United Kingdom, Brazil, France, New Zealand and Germany and similar proposals with other countries are being explored to expand revenues of finances and markets to the Indian film industry.
iii) Films are permitted to be exhibited in film festivals in India and abroad under ATA Carnet.