The Governments of India and Goa, and the Confederation of Indian Industries are clubbing together to invest $50m into a project to turn the coastal tourist paradise of Goa into the permanent location for India's travelling International Film festival.
The 35th edition of the International Film Festival of India in October 2004 will be held in the former Portuguese colony, and will include an annual film and television market.
Festival events will be held within a one kilometre radius that will see the construction of a new convention centre and up to seven new multiplexes.
Six hundred kilometres south of Mumbai, Goa already has a hotel room capacity of 4,500 and an international airport. In addition to the film festival, Goa intends to keep the venue busy by hosting regional festivals, art and culture and fashion shows.
A delegation headed by Suresh K. Amonkar, the minister for Tourism in the Goa government and accompanied by Information Secretary Ms. Jayashree Raghuraman and Information Director Rajesh Singh, attended Cannes this year to examine the workings of the international film festival.