NewsLine 365 : Your daily news source. India News. Bollywood News.
your daily source of fresh news.
MAIN PAGE

UK government offers tax cuts for Bollywood ventures

UK Film minister Barbara Follett has signed a bilateral co-production treaty with Bollywood.

ajay

Follett met Bollywood actor Ajay Devgan and filmmaker Vipul Shah and declared the launch of the treaty, according to which Indian producers will have easy access to tax breaks, fresh funding sources and practical support.

Under the treaty’s terms, any Indian filmmaker who wants to collaborate with a British producer will have access to a range of benefits, including tax breaks, sources of funding and practical support. British sources said they expected 10 extra projects to go into production in the next two years, providing jobs, entertainment and cultural benefits to “two of the world’s great cinema-going nations”.
Follett said: “After the United States, the British and the Indian film industries are arguably the two greatest in the world. The range of benefits we are offering through the treaty aims to bring our industries closer together —and I am confident that Indian filmmakers will want to take up the offer.”
She promised: “Any Indian filmmaker who wants to collaborate with a British producer will find it more financially worthwhile. We can also offer a mature production infrastructure and share expertise between the two countries’ film industries. I am delighted to see some of the biggest names in Bollywood filming in the heart of London and hope to see many similar co-productions being filmed around the UK in the coming years.”
The treaty is expected to indirectly support a range of businesses. They include British-Indian suppliers who support filmmakers with everything from costumes to caterers, British-Indian owned cinemas that are likely to show the films and the UK tourist industry.
Follett met Bollywood actor Ajay Devgan and filmmaker Vipul Shah and declared the launch of the treaty.Shah, who shot his flick ‘Namaste London’ in UK, has taken over Trafalgar Square to make new film ‘London Dreams’ starring Ajay Devgan and Asin.

“I think that more films will be made in London, primarily for Indian markets, working with crews in their own cities is a great thing. They know the systems, how the shoots function in that particular city, how to get permissions, how to move things. It’s always very important,” Vipul said.

Devgan stated the demands of a global market were having an effect on Indian films. “I guess they are changing to adapt to the audience. We’re just trying to cater for them, all kinds of films are being made - there are films that have been adapted for the global market and are doing very well,” Ajay said

Record numbers of Bollywood films have been released in the UK over the past few years. There were 2.6 million visits to Hindi films in the UK in 2005, and Indian films accounted for over 16 per cent of all releases, taking £12.4 million (Rs 99.7 crore) at the box office.

READ all

Entertainment News

Related News


Tagged as: , , , , , ,

Entertainment Correspondent writes about Bollywood and the entertainment world.
All posts by Entertainment Correspondent

Leave a Reply