Under a new initiative, the Ministry of Information and Broadcasting has announced film promotion fund for India’s official entry to Academy Awards under foreign film category and also for the movies which are officially selected in major international festivals. The announcement was made I&B Minister, Venkaiah Naidu on Tuesday.
The financial assistance would be provided to the filmmakers for promotion of their films at the international film festivals across the world. Accordingly, the proposed fund value for films being selected to represent India at Oscars is Rs 50 lakh to Rs 1 crore.The maximum amount for a filmmaker for the competition section of Cannes film festival is
Rs 20 lakh while in Un Certain Regard and Director's Fortnight the amount would be Rs 15 lakh each. If a filmmaker makes it to the ‘In Competition' section of Venice film festival, the amount would be to the tune of
Rs 15 lakh. For Toronto International Film Festival and Busan's new currents section the value is Rs 10 lakh. For the window of Asian Cinema section of Busan International Film Festival and locarno International Film Festival the amount is Rs 7,50,000. Films going to festival's like Sundance, Rotterdam and Berlin also qualify for the assistance. The
step is a part of Government's efforts towards promotion of Indian cinema in the international arena and especially helps the independent filmmaker to promote their work. The fund is expected to meet the expenses of the film maker as engagement of publicity manager,
travel of director, maker and key talent to make appearance at the red carpet, holding press meets, accommodation, screenings, advertising and networking. The Directorate of Film Festivals has been designated as the nodal agency for implementing this initiative.