India and Australia sign audio-visual co-production agreement

India and Australia sign audio-visual co-production agreement : India and Australia signed an audio-visual co-production agreement to offer filmmakers financial incentives amounting to up to 30% of the expenditure incurred in the respective countries. The agreement was signed by I&B Secretary Apurva Chandra and Australian High Commissioner Barry O’Farrell.

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Australia is the 16th country with which India has a co-production agreement that would benefit mainly small filmmakers keen on shooting movies, web series, advertisements or carrying out post-production work or visual effects in that country.

“For all qualifying projects, the international film production company can claim a payable cash incentive of up to 30 per cent on qualifying expenditure in India, subject to a maximum of Rs 2 crore,” Chandra told reporters here.

Chandra said in case of shooting of foreign films, a 5 per cent bonus, up to a maximum of Rs 50 lakh, as additional reimbursement would be granted for employing 15 per cent or more manpower in India.