Hyderabad, Nov.20 (NSS): Municipal Administration & IT Minister K Tarakarama Rao today inaugurated the 5th edition of Indywood Film Market “IFM-2019” at Hyderabad International Convention Centre here.
Speaking on the occasion, KTR said the State government will promote Gaming, entertainment and related media sector in a big way. The government will also offer required subsidy to the film industry to make big business in future, he said, adding Hyderabad has world class studios and VFX, Gaming and Animation sectors were doing significant business.
Participating as chief guest at four-day Indiajoy program, KTR said Hyderabad and Telangana will be favorite destination for gaming and animation Industry. He also said the gaming sector was making Rs 250 crore business now and likely to increase it by three folds by next year. Stating that the State government was spending a whopping Rs 1,000 crore for IMAGE Towers, KTR said the project will be launched in 2021 or 2022.
The IT Minister said the animation wing has its great impact on cinema industry as that reflects in Bahubali, Magadheera and Eega films. He said Chita Bhim is the best example for local language whose content being offered by OTT Broadcaster. After roaring success exhibited in the previous four editions, IFM was much bigger, better and stronger. It showcased a perfect amalgamation of technology cum entertainment. Indywood Film Market is always focused on exposing participants to a plethora of investment opportunities.
Delegates were seen engaging in meaningful discussions with domestic and international investors, showcased their services through sophisticated exhibition spaces and also were seen networking with top-notch stakeholders of the film industry, and also enhanced the diversity of perspective and content presented.
For its fifth season, IFM focused on four major product categories. The market served as a convergence point for global buyers and sellers with an expected turnout of 5000+ delegates and 100+ exhibitors.; 500+ potential investors; 100+ country representatives and achieved 20,000+ footfalls. The event also dedicated special pavilions for film associations and organizations where they were, they got an opportunity to meet, discuss and connect with like-minded people. The major participants included Camera & Lighting brands; Animation & Software brands; OTT & Content Platforms; Shooting Equipment; Film Associations; Film Institutes; Tourism Boards & Commissions.