India's information and broadcasting minister, Sushma Swaraj, plans to grant the Indian film sector with "industry" status, thus enabling it to receive loans from banks and financial institutions. Indian films can now also be insured, as is the practice in the west.
The move is part of the on-going corporatisation of the Indian film industry which is increasingly turning to the capital markets for financing. Following Swaraj's announcement, a rash of Indian film companies are expected to approach Indian banks with their business plans.
The Indian government is also considering allowing KU-band direct-to-home (DTH) television services in India by November. Star, Sony and Zee are currently the three main competitors for the Indian DTH business.