In one of the most important sessions on the final day at FICCI FRAMES 2015, which looked at how the state of Maharashtra should be the global destination for the media & entertainment industry; Prime Focus founder, executive chairman and CEO, Namit Malhotra took to stage as the sole representative from the space to voice his thoughts on which are the areas that need to be looked at to make that dream a reality.
“I am part of the third generation of a family that has been in the film business since the early 1950s, and the fact that I myself am a Mumbai born lad makes me feel that much closer to this very relevant thought of making Maharashtra the global destination for the M&E sector,” Namit stated.
He further went onto point out that he’s literally seen the industry grow and blossom in front his eyes and is overjoyed by the fact that he too has managed to play a small role through his company Prime Focus. The poster boy of the Indian VFX industry was also honoured on the opening night at the 12th BAF Awards for his contribution towards the upliftment and betterment of the AVGC industry at large and putting India on the world map.
“After Hollywood, our Indian film industry is the biggest globally and that in itself is a matter of great honour and pride,” Namit exulted. “There have been many international production houses that are wanting to do a lot more projects in and with our industry, but are simply put off because of the long and tedious paperwork that they have to get done for a simple trip to the country for a shoot.”
He also acknowledged the fact that the current government is a lot more open and supportive in terms of helping streamline processes for better results, but he still felt that there is a lot of ground to cover in many areas when it comes to getting international production companies to look at India, more importantly Maharashtra as a state to shoot and use local facilities for post production as well.
Namit stressed, “We are at a very crucial juncture at this point in time as far as the AVGC industry is concerned. And if the government can help in ensuring that there is a more conducive work environment, it will go a long way in encouraging the various stakeholders in the industry to up the ante and push the limits of creativity in the work we do.”
Another major concern that was brought to the forefront was the high level of taxation that is prevalent in the state, at 45 per cent – the entertainment tax is the maximum in the country. Namit suggested that there should be some level of tax leeway that could be allocated if there is foreign currency coming into the country with work from an international studio, as that will encourage more and more global players to look at Maharashtra as a potential shoot location as well.
“We have the talent pool; we have the commitment and urge to work with the best, so why should we continue to work as the back office of some international Fortune 500 listed company… It’s time we look at nurturing our creative talent and become part of the Fortune 500 list itself,” Namit ended.