The Confederation of Indian Industry (CII) has tied up with the Credit Rating Information Services of India (Crisil) to come out with a grading system for the film industry by June.
"Crisil will grade the system arising out of the risks perceived by the film business," said Bhiren Ghose, chairman, CII-Media & Infotainment Committee.
Ghose made this announcement at the release of CII and Ernst & Young's first 'EnterMedia Report 2001' in Mumbai today. The release coincided with the two-day conference on 'Business of Entertainment'.
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Making a presentation on the report, Ghose, said, " The purpose of CII-Platform for the entertainment industry is to move forward. The EnterMedia report 2001 has been prepared to be catalysts for implementing critical changes deemed necessary to help the Media & Entertainment industry fulfil its growth potential. Secondly, bring ideas and thoughts together from wide ranging sources and assimilate them."
Ghose also emphasised the need for global co-production boards. "We have to establish a concept of India being a global solutions and services base for entertainment software production content," he added.
Interestingly, the report has highlighted that though the Indian film industry has achieved a rapid growth, to a certain extent, it has become unwieldy and disorganised. The report is thus an appeal to the government to give the industry a much needed structure and discipline.
The report has addressed several issues that pain the Hindi film industry. These are piracy, an unorganised and fragmented structure leading to a paucity of institutional financing, high levy of entertainment tax, privatisation of FM radio, resistance of cable operators to pay channels and granting of 'preferred industry' status to the industry.
Amit Khanna, chairman of All India Film Producers Council said the lack of cohesion within the rank and file of the industry itself has been a deterrent to its growth.