By IANS,
New Delhi: An India-France agreement for co-producing films will be celebrated at special ceremony May 15 at the 64th Cannes International Film Festival.
It will be held at India’s National Film Development Corporation (NFDC) pavilion jointly with CNC (French National Cinema and Motion Pictures Centre) during the film gala, scheduled to be held May 11-22.
The Indian film industry will also be honoured through the screening of “Bollywood: The Greatest Love Story Ever Told,” produced by Shekhar Kapoor and UTV Motion Pictures, in the Cannes ‘Out of Competition’ section, said a press statement.
The India-France agreement for co-producing films was signed Dec 6, 2010 by India’s Information and Broadcasting Minister Ambika Soni and French Culture and Information Minister Federic Mitter on behalf of the two governments. Indian Prime Minister Manmohan Singh and French President Nicolas Sarkozy were present at the signing.
The agreement came into effect April 1. Unlike the previous co-production agreement signed between the two countries Jan 16, 1985, the latest deal allows producers from each country to contribute between 20-80 percent to a co-produced film.
However, for exceptions, the minimum contribution can be reduced to 10 percent with the approval of the French and Indian authorities.