Blog Post

Bollywood: Hollywood Beckons

GlamSham.com: According to the story, Western movie powerhouses are planning to join the Bollywood bandwagon. At a Federation of Indian Chambers of Commerce and Industry (FICCI) Frames conference, Motion Picture Association of America’s Asia-Pacific senior vice-president Micheal Connors admitted Hollywood was keen to join hands with Bollywood to “bring the mystical magic of film to people everywhere through the new digital technologies”.
Hyperion Pictures India, a subsidiary of the independent Hyperion Studio Inc., is looking at three projects in India, including a musical directed by US director Willard Carroll, with an American heroine but an Indian hero, cast, crew and locations.
Indian restrictions on foreign direct investment (FDI) for producing and distributing films in India were removed two years ago and those on remitting funds abroad in 2001. Hollywood’s share of the Indian film market averages a mere five percent, whereas in most other markets it is up to 60-90 percent.