Asia, Africa and Latin America will compete for the Golden Peacock (Rs 10,00,000) award for the Best Film and the Silver Peacock (Rs 5,00,000) for the Most Promising Director.
The jury will comprise the Chairman, Mr Rolf de Heer, who is a well-known director from Australia. Other members are, Mr Vincent Maraval, Producer and co-founder of Wild Bunch, France, Mr Olivier Assayas, film director from France and Mr Jahnu Barua, well-known film director from Assam.
Addressing the media on Saturday, Mr Pratapsing Rane, Chief Minister of Goa, said that Goa is slated to be India's next entertainment hub and IFFI 2006 is spearheading its growing recognition as an International cinema destination.
This year IFFI brings together global participation, world-class entertainment and internationally acclaimed films.
Ms Paliwal said that society is in the process of making a yearly event calendar encouraging associated ventures with international brands in the field of cinema and will work towards making Goa the entertainment heart of the country.