Bollywood’s global share to rise to five percent
The Indian government will work toward raising Bollywood’s global share in 2007 to five percent from the current two percent, even as steps are being taken to improve the quality of film scripts, a senior minister said Thursday.
“Steps are under consideration to increase the global visibility and acceptability of Indian cinema, including increased presence at various film festivals like Cannes,” Minister of Information and Broadcasting Priya Ranjan Dasmunsi said at the inauguration of the India chapter of the US-Asia Business Forum here.
Five core groups set up for the purpose are expected to submit their suggestions shortly, based on which necessary action will be initiated, he added.
To improve the quality of film scripts, plans are afoot to upgrade two film training institutes and schools, the minister stated.
Turning to development, Dasmunsi said though China is presently ahead in the economic sense, India was hopeful of matching up to any developed country by the end of 11th Five-Year Plan (2007-12) period.
Speaking about trade, the minister said India and the US had agreed to advance mutually beneficial bilateral trade and investment flows by holding high-level public-private investment summits and continuing with the efforts to facilitate and promote foreign direct investment.
In his remarks, Federation of Indian Export Organisations (FIEO) chairman R.K. Dhawan said India had gained visibility and recognition as a high-quality, low-cost production and research and development destination.
The government’s reforms policy had also created an investment-friendly atmosphere, he maintained, adding India could serve as a base for third country exports.
— IANS
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