Govt for release of dubbed films abroad

The government is planning to promote release of dubbed version of Indian films in countries having a large presence of NRIs as part of efforts to promote the entertainment industry, the Lok Sabha was informed.

After allowing financing of film production by banks and IDBI, the government is also considering entry of venture capital funds into the sunshine sector.

In a written reply to the lower House, Minister of State for Information and Broadcasting Ravi Shankar Prasad said the National Film Development Corporation, which was so far sub-titling Indian films in various foreign languages, was considering release of dubbed versions of indian films in countries where the Indian diaspora is large in number.

He said several initiatives have been taken so far to promote export of Indian films.

RBI has formulated guidelines for financing film production while IDBI has been allowed to finance the sector, Prasad said, adding 100 per cent FDI has also been allowed under automatic route in 2002.

"In order to bring about a receptive investment regime in the entertainment sector within India, a committee has been recently set up to suggest a strategy to facilitate the flow of venture capital into the sector," he said.