As part of a new initiative of the government, movies selected to represent India in the foreign film category at the Oscars will get a promotion fund of up to Rs 1 crore.
Substantial financial assistance will also be given to films competing in prestigious international film festivals such as Cannes, Sundance, Venice, Berlin, Toronto and Rotterdam, Information & Broadcasting Minister M Venkaiah Naidu announced today at a press conference of the 47th edition of International Film Festival of India (IFFI) beginning November 20.
The proposed fund value for films being selected to represent India at Oscars is Rs 50 lakh to Rs 1 crore.
The maximum amount for a filmmaker for the 'In Competition' section of Cannes festival is Rs 20 lakh while in 'Un Certain Regard' and 'Director's Fortnight' the amount would be Rs 15 lakh each.
If a filmmaker makes it to the 'In Competition' section of Venice film festival, the amount would be to the tune of Rs 15 lakh.
For Toronto International Film Festival and Busan's new currents section, the value is Rs 10 lakh. For the window of Asian Cinema section of Busan International Film Festival and Locarno International Film Festival the amount is Rs 7.50 lakh.
The step is a part of the government's efforts to promote Indian cinema in the international arena and especially help independent filmmakers to promote their work.
The initiative will mainly take care of expenses like the engagement of publicist, travel of director, maker and key talent to make an appearance at the red carpet and press meets, accommodation, screenings, advertising and networking.
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.
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