The Commerce Ministry is spearheading this effort to sell more Bollywood hits to China, and to do that it is working with China's official state film importer, China Film Group Corporation. (JPN)
The Bollywood solution to trade deficit, ministry officials feel, will have a good start with a 200-screen release of Aamir Khan-starrer Dhoom 3 in China on July 26. The movie grossed Rs 500 crore in India, and much hope is pinned on it creating a big market for Indian movies in China.
Non-Hollywood foreign films compete with 1.5 per cent of China's huge film market. Moreover China is slated to become the world's largest movie market next year, therefore by selling Indian films to China might give more momentum to Indian exports to China.
China currently agrees to buy five films from India annually. But India hasn't sold that many per year. Last year, China imported more films 80 globally than its WTO commitment 34. So, Indian officials are hopeful ‘right films’ will get Chinese officials interested.
India has so far screened Kangana Ranaut-starrer 'Queen' and Farhan Akhtar's 'Bhaag Milkha Bhaag' to select Chinese audience. There are plans to push it for imports as well. Top production houses such as Viacom18, Zee, Eros International and Reliance Entertainment too will be holding meetings with the CFGC.
The Commerce Ministry is also jointly commissioning a study with the Indian film industry to understand the tastes and trends of the Chinese film industry, and offer films more suitable for the audience there.
Indian authorities are eager to make the most of this opportunity and they hope the right content gets sent across. But since films such as 'Veer', 'Krrish' and 'My Name is Khan' that were screened didn't perform well, Indian officials have become extra cautious now. They have even commissioned a study to understand the cinematic sense of Chinese citizens.
Foreign film sales constitute only 15 percent of China's film market, and of that small proportion most are Hollywood films. Non-Hollywood foreign films compete for only around 1.5 percent of China's vast film market. Last week, a delegation from India led by CII, along with government officials, visited China to enhance the two-way services trade.
The Commerce Ministry is spearheading this effort to sell more Bollywood hits to China, and to do that it is working with China's official state film importer, China Film Group Corporation.