IEFILMI's goals include facilitation
of trade and business in the commissioning, production, distribution
and promotion of films in India and the EU countries. We believe we can
play a vital role by creating awareness and networking among the
involved partners.
IEFILMI's
focus is on having a dialogue with the UK's film
organisations, potential investors, distributors and, at a later stage,
the same experience would be repeated in other European countries. We
organise talks, discussions, academic lectures, trade seminars
and Q&A sessions to engage the European film fraternity.
A QUARTERLY MAGAZINE
A quarterly
magazine with incisive articles and industry's latest developments,
including India-EU related film news will follow soon. Subscribe to our
online newsletter. In this endeavour we are supported by India's top
film-makers and organisations and their counterparts in the EU
community.
We also seek input from all organisations to update us if they have some thing to share with us.
We
are in the middle of inviting leading film directors, producers and
stars from India to avail of emerging investment opportunities in the
UK and other EU countries. IEFILMI works closely with the film
fraternity in India to help them in inviting the key players from the
EU countries.
IEFILMI is pleased to act as an advisor,
consultant and coordinating body for various film bodies in India and
the EU countries.
IEFILMI
is poised as a bridge to link the film cultures between Europe and
India and common to both, a tool for both to consult and able to act as
a proactive facilitator for both communities.
INTERNATIONAL INTERNSHIP
There's
a plan to launch an 'International Internship', effectively, targeted
at upcoming young professionals who need to spread wings a little to
broaden their experience by working short-term in another film culture.
This is something we believe needs support because it encourages
personal learning and advancement as well as contributing to our
industry's international understanding and goodwill.
Why India?
India will overtake the UK, France and Italy within ten years, Germany by 2009, Japan by 2025 and the United States by 2042- Goldman Sachs, 2007.
International bankers Goldman Sachs provoked a storm when they published a report in 2003, saying that the four BRIC economies (Brazil, Russia, India and China) would change the economic dynamics of our world. The report concluded that, in terms of GDP, China would overtake the US by about 2045, and India would overtake Japan, to become the world's third largest economy by 2032.
Some reacted with 'shock and awe' at that time. India? Forget it. This was the year 2003.
Come 2007, Goldman Sachs revise their BRIC report and conclude that India will overtake the UK, France and Italy within ten years, Germany by 2009, Japan by 2025 and the United States by 2042.
The revised report from Goldman Sachs said: "There has been a structural increase in India’s potential growth rate since 2003 on the back of high productivity growth.
"We project India's potential or sustainable growth rate at about 8% until 2020. The implication is that India's contribution to world growth will be even greater (and faster) than implied in our previous BRICs research."
February 2007. India has emerged as the most favoured private equity destination attracting US$ 1,239.22 million worth investments in January, surpassing Asian giants like China and Japan, says a report by Asian Venture Capital Journal. Last year, the country was among the the top 10 PE destinations having witnessed a whopping growth of 252 per cent with investment as high as US$ 7,009 million for 2006 as against just US$ 1,992 million in 2005, the report said.India is now also set to be counted among the biggest merger & acquisition (M&A) markets for 2007. In just one-and-a-half months of this year, India Inc has been involved in strategic M&A deals worth more than US$ 32 billion. The significance of the size can be gauged by the fact that just two years back India clocked M&As worth US$ 16.3 billion during an entire year.
Indian Film Industry
Being the world's most prolific, at its peak producing an estimated 900 films a year, India's film industry, according to consultancy firm KPMG, will cross $2 billion next year and $3.5 billion by 2010. Indian Film Analysts are more optimistic. They project it to be worth $10 billion by 2010.About 25 million Indians go to their nearest cinema halls to see a film every day. More and more multiplex screening centres, fitted with international technology and digital facilities, are coming up every year.
Bollywood, a popular name for India's main language Hindi cinema, has emerged as a 'Brand India' overseas where Indian producers are able to earn at least 15 to 25% of their income.
Corporate Structure
'Although, over ninety years old, the Indian film industry was accorded the status of an industry as recently as 2000. Consequently, it is only during the last five years that organised financing from banks, financial institutions, corporates and venture funds became possible. Earlier, it was almost solely reliant on private and largely individual financing at extremely high interest rates. Over the last few years, there has been some change in the operating style of the industry. Film financing from organised sources is on the rise The Indian film industry comprises of a cluster of regional film industries, like Hindi, Telugu, Tamil, Kannada, Malayalam, Bengali, etc. This makes it one of the most complex and fragmented national film industries in the world. These regional language films compete with each other in certain market segments and enjoy a virtual monopoly in certain others.
Bollywood Phenomenon
The most popular among them is the Hindi film industry located in Mumbai, popularly referred to as “Bollywood”. Out of the 200 Hindi films made in India each year, around 150 are made in Bollywood. These Bollywood films are released throughout India on both big and small screen formats, with several of them being screened overseas as well'- KPMG
Why Europe
The cinema attendance in the European Union passed the 1 billion milestone in 2004 for the second time. Admittingly, 2005 was not so good. On average, more than 700 feature films are produced in the European Union every year. Sales only from Box Office generate a revenue of 5 billion euros annually from about 25 000 screens. The real potential for the european films lies in the markets overseas.
A number of European countries are keen to promote cooperation between their film industries and India. It brings them revenues, tourists and an untapped huge chunk of audiences. The film locations featured in Indian films from Switzerland, UK, France, Poland and Hungary have become popular tourist destinations for Indian tourists. Several EU countries are eager to initiate a regular dialogue with the representatives of India's film fraternity.
At least, 25 Countries in the EU have proper film bodies to further the interests of their cinema. They are seeking reciprocal relationships in the areas of investment, production, distribution, opportunities and promoting EU's locations.UK FILM INITIATIVE
The UK Film Council, a government-backed strategic agency for film in the UK, has already launched a major drive to increase co-operation with the Indian Film Industry in areas including film production, distribution, infrastructure and tackling the growing problem of film piracy. The British film body has identified a number of areas where both countries can benefit from closer working between the two film industries. Items on the agenda include: increasing audiences for Indian and British films distributed in each others countries. A co-production treaty has already been signed between the two countries.
The UK Film Council backed Bend It Like Beckam grossed $1m in India, taking $371,000 in its opening weekend - more than Star Wars Episode II.
The UK film industry serves both indigenous UK filmmakers and
foreign companies, including those from India and the US, that choose
for professional reasons to make films in the UK.
The head of the IEFILMI's advisory board Jag Mundhra is among them. In 2000, the total cost of making films in the UK was £804.3m. In terms of investment, this made the UK the third-largest film industry in terms of generating revenues in the world, after the US and Japan. So, it's a win win situation for the EU and India. Pictured, Bend It Like Beckham by Gurinder Chadha (2002)