Co-Production Treaty Between UK-India to Boost Cinema

On the sets of Vipul Shah's Latest film 'London Dreams', the British Film Minister Barbara Follet formally declared the signing of the Bilateral Treaty with Bollywood, under which Indian Producers shall benefit from Tax Concessions, can acquire fresh funding sources and also get easy practical support .The Minister met Ajay Devgan who along with Asin are the lead pair to avail the facility of the treaty as shooting started much before the deal was finalized.

Although annoyed with the absence of Salman Khan, Barbara Follet however was very kind and stated "After United States, the British and the Indian Film Industry are arguably the two greatest in the world. The range of benefits we are offering through this treaty aims to bring our industries closer together-and I am confident that Indian Filmmakers will want to take up the offer". She expressed joy that some of the big names were shooting in London and said, "Any Indian Filmmaker who wants to collaborate with a British producer will find it more financially worthwhile."

The main body of the treaty was signed by Former British Culture Secretary Tessa Jowell and India's Information and Broadcasting Minister Priya Ranjan Das Munshi in New Delhi on December 5, 2005. However the detailed annex was singed after negotiations in June 2008. The Films that will be produced under the treaty shall benefit from possible funding from the UK Film Council, also get support in marketing and selling the film in International Film Festivals as well as access to European markets and TV sales. To quote Follet, "The wider your base, in an economically difficult time, the more resilient you'll be." In year 2005, Indian films accounted for 16 percent of the total releases in UK.

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