The world’s two most populous nations India and China have signed a long-planned film co-production agreement, aiming to strengthen ties between their film industries. There is very little collaboration between China and India, although Chinese films are occasionally released in India and vice versa. For example, Bollywood title Dhoom 3 was released in China by HGC Entertainment earlier this year and Indian group Reliance Entertainment’s 3 Idiots had a successful run in both Hong Kong and China in 2011.
China and India are two significant film production players in the global film economy. Under the agreement producers will be entitled to access benefits from both countries. It will allow filmmakers in India greater opportunities to get involved in this fast growing market of China, with new screens requiring a diversified range of titles. Maybe more importantly, they can bypass China’s foreign film import quota, which is currently limited to 34 films per year on a revenue share, the majority of which are Hollywood blockbusters. China, on the other hand, can also take the opportunity to further expand their presence in India, an established film market and one which is also opening up to non-Indian films, albeit at a relatively slow pace.
The two countries will hold the first meeting of a Joint Working Group on Films at this year’s International Film Festival of India (IFFI) in Goa, which will also have a Chinese cinema section in the programming. In India, The National Film Development Corp’s co-production event, Film Bazaar (Nov 20-24), will also have a focus on co-producing with China.