UK Trade and Industry Secretary Patricia Hewitt is backing a scheme to raise £34m to set up a production base for Indian films made in Europe, specifically in the Leicester area of England.
The plan is to offer wealthy British individuals the chance to invest in a portfolio of Indian films produced in Leicester for the local market and beyond, while receiving generous tax breaks.
Under this scheme investors qualify for immediate tax relief at their rate of tax - 40% for higher rate taxpayers. Leicester has a large Indian community - more than 25% of the city's population.
Earlier Indian films including Mohbattein, Dilwale Dulhaniya Le Jayenge and Khabhi Kushi Khabi Gham were shot in UK.