Indian Film Industry has passed different stages brewing from a traditional industry to the most high tech and advanced industry through continuous improvements in visuals, specially effects and skilful innovations. Today, the Indian Film Industry has grown leaps and bounds in almost all the verticals of the industry. India is one of the largest film producer in the world, Bollywood alone is valued at $2.28 Billion Industry. The growing demand of Indian films worldwide has also created a parallel demand for Indian Film makers and professionals around the globe. Indian talent is working today with some of the big global leaders like Sony, BBC, Disney, Cartoon Network and counting.
The adoption to forefront technologies, maintaining cost efficiencies and deployment of cutting edge practices has proved that the Indian Film sector is no far behind the global scenario. A big portion of revenues in the film industry is today coming from the outsourced projects mainly in the animation, 3D and VFX segments.
Factors accelerating growth of Indian Film Industry
Skilled professionals, attractive locales & use of high technology with world class production capabilities is what making India a popular filming and post-production destination. Even many big Hollywood production houses are outsourcing their post-production work specially the animation & VFX to India to take the benefit of cost advantage while not compromising on the quality work.
Talented and skilled media professionals in India is creating huge demand for Indian work worldwide. Indian animation and VFX professionals producing renowned work like Bahubali, Zero, Ra-One, etc. are creating demand for Indian professionals internationally in big projects.
India has cost advantage over many developed and developing countries. The cost of producing merely a 30-minute 3D animation programme in US and Canada is around US $60,000 which can be easily produced in India in US $25000-40000.
The technology based segments of Film Industry like VFX and animation has grown fastest in India due to the cutting edge work by Indian studios at global level. There are many Top film and video production houses in India attracting huge outsourced work from into India providing post production, sound & multimedia services such as Colour Corrections & color grading, Video Editing, writing, recording, and editing of the soundtrack, Visual Effects, 2D-to-3D conversion, Animation, Dubbing and many more. Cities like Mumbai, Bangalore, Hyderabad and Chennai have good number of Post-production studios in India.
The geographical landscape and scenery attractions is another important factor simulating the foreign producers to shoot in India.
To boost the Indian Film Industry and encourage more outsourced work, Government of India has signed Co-production treaties with many countries such as Italy, Brazil, UK and Germany. To get easy access to institutional finance, film services has granted ‘industry’ status in 2001 and FDI of up to 100 % is allowed through the automatic route in Film Projects. Also, necessary supporting services and incentives are provided to foreign producers to shoot in India, to make India a preferred location to shoot films.
To conclude, it is not wrong to say that Indian film industry has moved to another phase of all-encompassing growth accompanying global technological advances and innovation and is expected to grow more in the years to come making India a global filming and post-production destination.