Incentive for foreign film production will be increased to 40 % of the expenses, with an increased cap limit from Rs.2.5 crore to Rs.30 crore: Anurag Singh Thakur

Union Minister for Information & Broadcasting and Youth Affairs & Sports Shri Anurag Singh Thakur said that India will increase the incentive for foreign film production in the country to 40 % of the expenses incurred with an increased cap limit of Rs.30 crore (exceeding 3.5 million US Dollars). Earlier, the per project cap for the incentives only Rs 2.5 Crore. An additional 5% percent bonus for Significant Indian Content (SIC), in his inaugural address at the 54th International Film Festival of India at Panaji, Goa today.

Shri Thakur said that there was a need for a higher incentive to attract medium and big budget international projects to the country considering India’s size and vast potential. “ This paradigm shift in incentivizing film production serves as a testament to India’s commitment and support for artistic expression and reinforces our position as a preferred destination for cinematic endeavors”, he added.

Further, in a glorious tribute to the legendary actress Madhuri Dixit, the 54th International Film Festival of India honoured her with ‘Special Recognition for Contribution to Bharatiya Cinema’ Award. “An icon across the ages, Madhuri Dixit has graced our screens with unparalleled talent for four incredible decades,” posted the Union Minister for Information & Broadcasting and Youth Affairs & Sports Shri Anurag Singh Thakur on X.