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With the growth of the middle class, English speaking population, the cinema obsessed culture and the growth of multiplexes, the Indian and US Business leaders have quoted that there is no surprise that India is being targeted by the Hollywood studios.
These leaders have suggested the fostering of the connections of Hollywood and Bollywood. These suggestions have been put forward in the view of the success received by ‘Slumdog Millionaire’ and the release of ‘Quantum of Solace’, a james Bond Movie.
"The United States and India possess the world's largest entertainment and media industries, both in terms of sheer output and global popularity. Yet traditionally neither industry had much interaction with the other or enjoyed success in the other’s domestic market”. This was quoted by the leaders a press meet which happened on 24th of June, 1009.
The following recommendations have been put forward by the task force which have been formulated by the Pacific Council on International Policy and FCCI:-
- The United States and India should craft a common approach on cultural market access and use their strategic positions to advance it in global trade negotiations.
- Both countries should devise a joint plan for advancing the digital transformation of the global media industry.
- Both governments should provide adequate funding for efforts to develop advanced fibre-optic networks that enable real-time creative and production partnerships between the two countries.
- Create short-term exchange programmes between US and Indian production companies and film schools designed to foster genuine creative interactions.
- Washington should encourage the Academy of Motion Picture Arts and Sciences to help the Indian film industry create a counterpart institution.
- The United States and India should eliminate tax and regulatory barriers that continue to impede bi-national production partnerships.
