India Confirms Interest in Raising International Production Incentives
variety.comJohn Hopewell Chief International Correspondent India looks to be moving closer to hiking its recently inaugurated cash rebates on international shoot spend in the country, including on animation and VXF works.
The confirmation came at last week’s Animation Film Festival, as India showed further signs of expansion in animation on various fronts: “Heirloom,” an Annecy Residency project from India’s Upamanyu Bhattacharyya, bowed at MIFA feature film pitches, the strongest in memory, and though it didn’t take a prize, it was regarded as one of the section’s standouts; Annecy-backed, AniMela, India’s first international festival for animation, VFX, XR, gaming and comics (AVGC-XR), revealed dates for its first edition in 2024.
Unveiled at last year’s Cannes Festival, Indian federal government incentives returs up to 30% of qualifying spend, up to a ceiling of INR20 million ($244,000).
Productions employing 15% or more of their labor force from India can access a further 5% of spend, capped at INR5 million ($61,000).
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