The Indian government has approved an audiovisual co-production treaty with Australia, designed to promote joint production of films between the two countries.
While details are currently scarce, producer contributions from the two countries can vary from 20% to 80% of the final total cost of the jointly produced work.
“Australia has emerged as a preferred destination for shooting of Indian films. India is fast emerging as a major content hub for filmmakers looking for new projects. India has abundance of exotic locations, talent pool and relatively cheaper cost of production, making India a favored destination of foreign film-makers,” the Indian government said in a statement.
“The proposed agreement will boost ties with Australia, lead to exchange of art and culture, showcase the soft power of our country and lead to generation of employment among artistic, technical as well as non-technical personnel engaged in audiovisual co-production, including production and post-production work,” the statement added.
India unveiled filming incentives at Cannes earlier this year and, as revealed by Variety, one of the first films that is making use of it is Australian film “The Laugh of Lakshmi.”
The highest profile Australian co-production shot in India is BAFTA-winner “Lion,” starring Dev Patel. Several Indian films featuring top talent have shot in Australia, including “Indian” with Kamal Haasan, “Salaam Namaste,” starring Saif Ali Khan, “Dil Chahta Hai,” with Aamir Khan, “Chak De India,” featuring Shah Rukh Khan and “Singh Is Kinng,” starring Akshay Kumar.
India also has existing co-production agreements with Bangladesh, Brazil, Canada, China, France, Germany, Israel, Italy, New Zealand, Poland. Portugal, Korea, Russia, Spain and U.K. Australia currently has treaties with Canada, China, Germany, Ireland, Israel, Italy, Korea, Malaysia, Singapore and South Africa and is a signatory to MOUs with France and New Zealand. Australia’s existing treaty with U.K. is under renegotiation, while a treaty with Denmark is being negotiated.