India and Spain have inked a co-production pact designed to improve co-operation between the two countries in feature films, docus and toonpics.
The agreement provides a legal framework for the industries of both countries to pool creative, artistic, technical, financial and marketing resources to co-produce films.
“The utilization of Indian locales for shooting raises the visibility and prospects of India as a preferred film shooting destination across the globe,” India’s Ministry of Information and Broadcasting said in a statement. “It will also lead to inflow of foreign exchange into the country and transparent funding of film production.”
Bollywood film “Zindagi na milegi dobara” shot extensively in Spain last year with the support of the Spanish tourism board, and led to a rise in Indian tourists visiting the country.
The agreement was signed between India’s Minister for Information and Broadcasting Ambika Soni, and Spain’s Minister for Foreign Affairs and Cooperation Jose Garcia-Margallo y Marfil.
The pact was Soni’s last act in office. Manish Tewari has replaced her as part of a cabinet reshuffle.
India has existing co-production agreements with Italy, U.K., Germany, Brazil, France, New Zealand and Poland.