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The 54th International Film Festival of India (IFFI) commenced with a grand opening ceremony at the Dr. Shyama Prasad Mukherjee Indoor Stadium in Panaji, Goa, on Monday evening.
Union Minister for Information and Broadcasting (I&B), Youth Affairs and Sports Anurag Singh Thakur inaugurated the nine-day festival along with Goa Chief Minister Dr. Pramod Sawant, Minister of State (MoS) for I&B Dr. L. Murugan, MoS for Tourism Shripad Naik, actor and MP Sunny Deol, and other dignitaries.
“The 54th IFFI is set to be a melting pot of varied voices, vibrant cultures, diversities, and sheer cinematic excellence,” Mr. Thakur said, adding that the festival received an unprecedented 2,926 entries from 105 countries this year, a three-fold increase in its international submissions from the previous edition.
In his inaugural address, Mr. Thakur announced an increased incentive for foreign film productions in India. The country will now offer a reimbursement of up to 40% of the expenses incurred with a raised limit of ₹30 crore (nearly ₹3.6 million). Previously, the cap for incentives per production was ₹2.5 crore. The Union Minister also announced an additional 5% bonus for Significant Indian Content (SIC).
The incentive scheme for foreign productions was announced by India last year at the Cannes Film Festival.
“The paradigm shift in incentivising film production serves as a testament to India’s commitment and support for artistic expression and reinforces our position as a preferred destination for cinematic endeavors,” Mr. Thakur said.
The evening was further boosted by high-energy performances by actors Nushrratt Bharuccha, Shahid Kapoor and Shriya Saran as well as singers Sukhwinder Singh and Shreya Ghoshal. Additionally, Vijay Sethupathi, Karan Johar, Sara Ali Khan, Pankaj Tripathi, Shantanu Moitra, Jissu Sengupta, and others marked their presence at the opening ceremony and were felicitated by Mr. Sawant and Mr. Thakur.