India is to set up a $145 million National Heritage Mission, which will archive and restore films, and a cinema museum in Mumbai to coincide with the 2013 centenary of Indian cinema.
The country will also establish a $11.4 million national center of excellence in animation, gaming and visual effects in Mumbai.
The news was announced by minister for information and broadcasting Ambika Soni, at the closing ceremony of the annual FICCI Frames media industry conference on Thursday.
Soni also revealed that an anti-piracy taskforce lead by Geeta Reddy, information minister in the state of Andhra Pradesh, has been set up, which will report in six months.
Plans are underway to enact legislation against piracy, modeled on an existing act in the state of Tamil Nadu.
Soni said digitalizing film was the best way to check piracy and that the government is due to extend a 5% tax rebate on the import of the necessary technology.