In a boost to Australia's reach in the global screen marketplace, the Australian Government has announced Australia and India have reached in-principle agreement on an Audio-Visual Co-production Agreement between the two governments.
Negotiated as a side measure of the interim India-Australia Economic Cooperation and Trade Agreement, the co-production agreement would facilitate access to a wide pool of talent, expertise and infrastructure available in Australia and India, providing a mechanism for creative exchange and the development of screen projects of cultural significance.
Minister for Communications, Urban Infrastructure, Cities and Arts, the Hon Paul Fletcher MP, said the agreement would open up new audience and investment opportunities for Australian screen producers.
"India is the biggest producer of films globally and has one of the largest cinema admissions in the world, which is why we're pleased to support Australia and India's best screen talent collaborating and creating unique content," Minister Fletcher said.
"This co-production agreement will assist the Australian screen sector to grasp economic opportunities and compete in the global marketplace."
Both Australia and India will now progress their respective domestic processes to seek formal agreement to bring the co-production agreement into force.
Since the inception of the official co-production program in Australia in 1986, formal arrangements have been signed with 13 countries and resulted in 199 official co-production titles with total budgets of $2 billion that have either been completed or have commenced production (as at 30 November 2020).
