The festival will pay homage to actors Om Puri, Vinod Khanna, Tom Alter, Reema Lagoo, Jayalalithaa, directors such as Abdul Majid, Kundan Shah, Dasari Narayana Rao, and cinematographer Ramanand Sengupta.
"It is a loss for our film industry and nation, that such formidable talents are no longer among us. IFFI honours their tremendous contribution to the art of film-making by presenting a landmark film of each of these legends at the festival," Tandon said in a statement.
"Savalee" starring Lagoo, "Ayirathil Oruvan" featuring Jayalalithaa, "Chameli Memsaab" directed by Majid, Rao's "Osey Ramulamma" and Sengupta's "Nagarik", will also be screened.
The 48th IFFI begins in Panaji, Goa from November 20 and will be inaugurated by Bollywood superstar Shah Rukh Khan.