NEW DELHI: The Union Cabinet chaired by the Prime Minister of India Narendra Modi has given its ex-post facto approval to an Agreement on Film Co-production between India and Israel signed during the visit of Prime Minister of Israel Benjamin Netanyahu to India, in the presence of both the Prime Ministers in Hyderabad House in New Delhi on 15th January, 2018.
Co-production of an Indian film with an international party means that Indian producer can access international funds and can collaborate on the script, talent and distribution at international level. Co-production of a film under this treaty will qualify it to be national production both in India and Israel.
This will also enable a common pool of creative, artistic, technical, financial and marketing resources of the two countries. The co-produced films will also be eligible for their participation as domestic productions in film festivals of both the countries and any other incentives which are available for carrying out production and post-production work in any of the countries.
The signing of the Film co-production agreement will lead to mutual exchange of art and culture, create goodwill and better understanding among the people of both the countries as well as various aspects of film making. The Agreement will also help in generation of employment among artistic, technical as well as non-technical personnel.