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Nov. 24, 2023
India Raise Production Incentive to 40%
India’s Ministry for Information and Broadcasting has stated a rise in their local production incentive from 30% to 40% in rebate on qualifying spend, with a cap of $3.6M which is Rs300m. By: Dylan Low
An extra 5% bonus will be given to films with significant Indian content. To qualify for the higher incentive, worldwide productions must be provided shooting permission from I&B Ministry. Documentaries must be cleared by the Ministry of External Affairs as well.
India’s I&B Minister Anurag Thakur disclosed the news at the opening ceremony of the International Film Festival of India (IFFI) in Goa.
Thakur stated the changes were made to bring in more medium and large-budget international film projects to India, and also in line with the government’s wider objective of ensuring ‘Ease of Doing Business in India’.
“This paradigm shift in incentivising 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 endeavours,” he mentioned.
The incentive is being carried out by the Film Facilitation Office (FFO) backed by India’s National Film Development Corporation (NFDC). Productions who request for the incentive will be graded by a Special Incentive Evaluation Committee. The disbursement is made in two phases – Interim and Final. The final claim can be made once the project has concluded in India.
India’s production incentive was made public during the 2022 Cannes film festival. The incentive’s cap was last fixed at $3M which converts to Rs250m, fitting for smaller budget productions.
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