Indian film industry to target 5% of global market share

NEW DELHI: The Information and Broadcasting Ministry has set a target of over five per cent from the present two per cent for as the global share of the Indian film market in 2007.

I and B Minister Priya Ranjan Dasmunsi told the India chapter of the US-Asia Business Forum at its inauguration here today that there are plans to strengthen and further develop the film industry in India. He said that the five core groups set up for the purpose are expected to submit their recommendations shortly and necessary action will be initiated after that.

Steps are also under consideration to increase the global visibility and acceptability of Indian cinema, including increased presence at various film festivals like Cannes. Dasmunsi added that in order to improve the quality of film scripts, plans are afoot to upgrade two film training institutes. He said censorship is still needed in films though filmmakers enjoy considerable freedom in the treatment of their subjects.

Though China is presently ahead of India in the economic sense, the minister said he was hopeful of matching up to any developed country by the end of the 11th Five Year Plan. He felt that the business fora can act as a facilitating agent in further developing Indian interests abroad.

Dasmunsi said India and the United States have also agreed to advance mutually beneficial bilateral trade and investment flows by holding a high-level public-private investment summits and continuing with the efforts to facilitate and promote foreign direct investment and eliminate impediments to it.

Chairman of the Federation of Indian Export Organisations RK Dhawan said India has gained visibility and recognition as a high-quality, low-cost production and research and development destination. The Government?s inclination towards reforms has also created an investment friendly atmosphere. India can be used as a base for third country exports and also targeting Indian consumers. A total of 237 SEZs have already been approved and 51 of them have been notified, he added.

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