Last Updated : Jul 18, 2018 04:16 PM IST | Source:

Trade war with US may open new doors for Indian films in China

Indian films have collected a total of approximately Rs 2,846 crore over the last three years in China

Moneycontrol News @moneycontrolcom

While Indian films are making a mark at the Chinese box office, there are bigger opportunities awaiting them due to the trade war between United States and China.

As the trade war between the two countries escalates, Hollywood experts are speculating potential financial losses and job cuts, thus opening up bigger opportunities for Indian films.

Experts believe that one victim of this trade war could be film quota for Hollywood in China.

Currently, Beijing allows 34 Hollywood films every year and industry leaders were hoping an increase in this number as well as the cut Hollywood studios would take home from ticket sales, cited a Newsweek report.

"Hollywood movies are part of the services trade, and the impact of the current trade tension will go beyond goods to other areas," Bai Ming, a research fellow at the Chinese Academy of International Trade and Economic Cooperation, told Global Times.

Concurring with Bai, Tian Guangqiang, assistant research fellow with the National Institute of International Strategy at the Chinese Academy of Social Sciences, said, “Indian films should take advantage of the US-China trade tension to appeal to Chinese audiences and cash in."

Data shows that around eight Indian movies got a release in China from 2016-2018 as against 156 films from US, including those co-produced with other countries.

It was Aamir Khan’s 3 Idiots that opened Chinese doors for Indian films. Since then, many ventures have shined at the Chinese box office, including Dangal and Secret Superstar. Dangal had raked in Rs 1,343 crore from China alone. With this, Indian offerings gathered a total of approximately Rs 2,846 crore in the last three years.

"Given China's huge market potential and the box office success of previous films, the Indian movie industry will pay more attention to the Chinese market and will expand its presence through a variety of ways like co-productions," said Tian.
First Published on Jul 18, 2018 04:16 pm
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