India signs audiovisual co-production treaty with Canada

To further strengthen the bilateral ties, Canada and India have signed an audio-visual co-production treaty that aims to create jobs in both countries and boost tourism.
The treaty came into force on July 1, 2014.
"Celebrating the Canada-India Audiovisual Coproduction Treaty, we look forward to a deeper level of engagement between our respective audiovisual sectors, greater cultural and economic benefits to both countries and increased access to audiences worldwide," Canada's Citizenship and Immigration Minister Chris Alexander told reporters here today.
The Treaty, will allow producers to combine their creative, technical and financial resources to create audiovisual coproductions between both nations and will also boost Canada's tourism sector, he said.

During the last decade, Canada has produced close to 700 audiovisual treaty coproductions, with total production budgets of approximately CAD (Canadian dollars) 5 billion.
In 2012-13, Canada's audiovisual sector contributed CAD 5.8 billion to the Canadian economy and generated approximately 127,700 jobs.
The minister said the treaty will be applicable for the media and entertainment industry across India.
India is the fastest growing economy and Canada have set a target to triple the bilateral trade to CAD 15 billion annually.