Austria and India have signed a new co-production agreement in the film sector, which is intended to significantly expand cooperation between the two countries in film production. The aim is to move from pure service shoots to fully-fledged, joint film productions.
The agreement was signed during a visit by the Austrian Minister for Economic Affairs Wolfgang Hattmannsdorfer in India. According to the ministry, the agreement marks a „fundamental system change“ in the cooperation to date.
From service productions to genuine co-productions
Up to now, international film teams have mainly been able to shoot in Austria as service productions. Although productions were made in Austria, creative control, financing and rights were entirely in the hands of foreign partners.
The new agreement now enables genuine co-productions between Austrian and Indian producers. In future, they will be able to develop, finance and realise projects together. Creative responsibility and the exploitation of rights will also be shared. Producers will also have access to funding instruments in both countries.
Strengthening Austria as a hub and creative centre
The Ministry of Economic Affairs sees the agreement as a strategic step towards strengthening Austria as a film location. The aim is to attract more international productions to the country and strengthen the domestic creative industry. At the same time, the Austrian film industry is to be given better access to the Indian market.
With its film industry centred around Bollywood, India is one of the largest film markets in the world. The cooperation should therefore not only promote cultural exchange, but also open up economic opportunities.
Economic effects beyond the film industry
According to the ministry, international service and co-productions are an important growth driver for the audiovisual industry. The effects extend beyond the film industry and also affect tourism, the hotel industry, transport and technical services.
When international productions film in Austria, numerous industries benefit from additional added value at the same time. The tourism sector also sees potential: India is already one of the fastest-growing source markets for Austria, with rising visitor numbers and above-average daily spending.
Perspective
With the new agreement, Austria is positioning itself more strongly in the competition for international film productions. At the same time, it opens the door for Austrian producers in one of the world's most dynamic film markets.
The agreement could therefore not only change the production landscape in Austria, but also initiate new forms of international co-operation in the film industry.