Financial Daily from THE HINDU group of publications
Tuesday, Jul 16, 2002
Industry & Economy
CII (South) plans core group on film industry
CHENNAI, July 15
THE confederation of Indian Industry (Southern Region) plans to create a core group on film industry that will look at policy issues to enhance the industry's competitiveness, exploit institutional finance and export markets.
According to a confederation press release, the film industry in the South has the potential to contribute to the economy.
To fully take advantage of the "industry" status accorded to this business, policy support at the Centre and State Government levels are needed.
The Confederation of Indian Industry (CII) will closely work with senior film industry personalities and associations to look at measures to improve competitiveness and enhance institutional funding.
CII and CRISIL are working at developing a financing model that would enable commercial banks to weigh the risks.
With the markets emerging for Indian cinemas in the Gulf, US and EU, the Southern film industry can aim to exploit international markets.
There are opportunities to avail of export benefits along lines available to new economy sectors.
CII has commenced promotion of the Indian film industry through high-level delegations at the recently concluded Cannes Film Festival, France.
Technology upgradation will be one of the focus areas for CII.
Film laboratories are upgrading capabilities and film theatres are modernising and evolving into multiplexes.
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