The Union Cabinet has approved the agreement on Audio Visual Co-Production India and Bangladesh.
Decision in this regard was taken at the Union Cabinet Meeting chaired by the Prime Minister Narendra Modi in New Delhi.
Salient features of the Agreement
- It will cover co-production of films, animations and documentary films.
- An audio-visual co-production made under it, will be entitled to all the benefits which may be accorded to any national audio-visual work by both countries in accordance with their respective laws and regulations.
- It will lead to exchange of art and culture among the two countries and create goodwill and better understanding among the peoples of both the countries.
- Facilitate utilization of Indian locales for shooting, thus raising the prospect of India as a preferred film shooting destination across the globe.
- Audio-visual Co-productions will provide an opportunity to create and showcase our soft power.
- It will lead to generation of employment among artistic, technical as well as non-technical personnel including post-production and its marketing, thus adding to the GDP of both the countries.
So far, India has entered into audio-visual co-production agreements with Italy, Germany, United Kingdom, France, New Zealand, Brazil, Poland, Canada, Spain, China and the Republic of Korea.