Indian producers body the Film Producers Guild of India is to launch its own awards ceremony next month.

The nominees for the first Apsara FPGI Awards will be announced on May 5 with prizes to be unveiled at a ceremony in Mumbai on May 29.

The 50-year old Guild has 153 by-invitation-only members, made up of the most powerful and influential members in the Hindi film production sector.

Filmmaker Ramesh Sippy, the convener of the awards, told, 'The Apasara Awards will be the first awards 'of the industry, by the industry, for the industry' bringing a new level of transparent and credible awards"

The Awards will be audited by Price Waterhouse Coopers.

A total of 36 categories, including 24 from cinema, will be honoured at the grand finale and will be voted on by a ballot of all 153 members of the Guild.

The Indian film industry has several annual awards including the International Indian Film Awards, the Zee Telefilms Awards, The Filmfare Awards and the government backed National Film Awards.