The festival and an exhibition on legendary filmmaker Satyajit Ray were inaugurated by I&B minister Manish Tewari.
"The challenge was how do you commemorate 100 years of magical experience. As we look for the next 100 years we at the govt try to ensure the potential of filmmakers is not wasted running around bureaucratic hurdles. Our aim is to make it easier for the industry to shoot for films overseas and here," said Tewari.
Osten made 19 films in India between 1926 and 1939, and 'Throw The Dice' formed the final part of a trilogy of Indo-German productions, between him and Indian actor-producer Himanshu Rai.
The event was attended by Ramesh Sippy, Vishal Bhardwaj Rana Daggubati and Nagarjuna.
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For 'Sholay' helmer Sippy, being a part of the grand celebration is a great moment.
"I always used to think what would I do if not making films. I am happy that I don't have to worry about that anymore," said Bhardwaj.