India, Spain Sign Film Co-Production Agreement
The two countries will allow companies to pool creative and financial resources to boost their film sectors.
MUMBAI - India and Spain on Monday signed a co-production agreement seeking to improve cooperation between the two countries in the audio-visual sector, including feature films, documentaries and animation films.
The agreement was signed by India's Minister for Information and Broadcasting, Ambika Soni, and Spain's Minister for Foreign Affairs and Cooperation, Jose Garcia Margallo Y. Marfil.
The arrangement provides opportunities for both countries to pool creative, artistic, technical, financial and marketing resources to co-produce films. The deal “will also lead to inflow of foreign exchange into the country and transparent funding of film production,” according to a statement from the Indian ministry.
Last summer's Bollywood road trip hit Zindagi Na Milegi Dobara was the first major Indian production to shoot extensively in various locations in Spain.
India has also previously signed co-production treaties with Italy, U.K., Germany, Brazil, France, New Zealand and, most recently, Poland.