MUMBAI: In a bid to strengthen and further develop the film industry in India, the Information and Broadcasting Ministry has set a target of over five per cent (from the present two per cent) as the global share of the Indian film market in 2007.

The announcement was made by the Union Minister of Information and Broadcasting and Parliamentary Affairs, P R Dasmunsi at the inauguration of India chapter of the US-Asia Business Forum.

Dasmunsi said that the five core groups set up for the purpose are expected to submit their suggestions/recommendations shortly and based on these necessary action will be initiated. Steps are also under consideration to increase the global visibility and acceptability of Indian cinema, including increased presence at various film festivals like Cannes.

“In order to improve the quality of film scripts, plans are afoot to upgrade two film training institutes/schools. Though the filmmakers enjoy considerable freedom in the treatment of their steps, censorship of films is still needed in India,” he said.

Tough China is presently ahead of India in the economic sense, Dasmunsi said that he was hopeful of matching up to any developed country by the end of 11th Five Year Plan. According to him, the business fora can act as a facilitating agent in further developing Indian interests abroad.

Dasmunsi said India and the US have also agreed to advance mutually beneficial bilateral trade and investment flows by holding a high-level public-private investment summits and continuing with the efforts to facilitate and promote foreign direct investment and eliminate impediments to it.

Federation of Indian Export Organisations chairman R K Dhawan added that India has gained visibility and recognition as a high-quality, low-cost production and research and development destination. The government’s inclination towards reforms has also created an investment friendly atmosphere. “India can be used as a base for third country exports and also targeting Indian consumers. 237 SEZs have already been approved and 51 of them have been notified,” he added.