India & Colombia sign agreement to boost Film Industry Partnership
Agreements and MoU
3 min read
India and Columbia have signed an Audio-Visual Co-Production Agreement to boost the partnership between the film industry in both countries. Colombia is the 17th country with which India has signed such an agreement.
The agreement between India and Columbia is expected to benefit producers from both countries by pooling their creative, artistic, technical, financial, and marketing resources for co-production.
Who signed the agreement?
The India -Colombia Audio-Visual Co-Production Agreement was signed by Dr. L. Murugan, the Union Minister of State for Information & Broadcasting, and Jorge Enrique Rojas Rodriguez, the Vice Minister of Foreign Affairs of Colombia.
The agreement was signed in New Delhi on 15 October 2024.
Jorge Enrique Rojas Rodriguez is on an official visit to India. He also participated in the 10th round of Foreign Office Consultations between India and Colombia, held in New Delhi on 15 October 2024.
Benefits of the Audio-Visual Co-Production Agreement
The agreement will allow both Indian and Colombian filmmakers to shoot films in the other country.
The agreement will allow film projects to qualify as domestic productions in both partner countries. This will help the film-producing companies receive benefits reserved for local companies, like government financial assistance, tax incentives, and eligibility for inclusion in domestic TV broadcast quotas.
This agreement will also help Indian filmmakers capture the South American market.
This agreement will help promote India as a film location worldwide, boosting employment and the country's soft power.
Countries with which India has signed such agreement
India has signed the Audio-Visual Co-Production Agreement with 17 countries in the world. An agreement was signed with Italy and the United Kingdom in 2005, Germany in 2007, Brazil in 2007, France in 2010, New Zealand in 2011, Poland and Spain in 2012, Canada and China in 2014, South Korea in 2015, Bangladesh in 2016, Portugal in 2017, Israel in 2018, Russia in 2019, Australia in 2023 and Colombia in 2024.
About Colombia
Colombia is a South American country whose name is derived from Christopher Columbus, the discoverer of the Americas.
Colombia was a colony of Spain, and Spanish is the country's national language.
Capital: Bogota
Currency: Peso
President: Gustavo Petro
