New Delhi: Union Cabinet, chaired by Prime Minister Narendra Modi has approved to merge of four of its film media units, namely Films Division, Directorate of Film Festivals, National Film Archives of India and Children's Film Society of India with the National Film Development Corporation (NFDC) Limited by expanding the memorandum of articles of association of NFDC, which will then carry out all the activities hitherto performed by them. "The merger of film media units under one corporation will lead to convergence of activities and resources and better coordination, thereby ensuring synergy and efficiency in achieving the mandate of each media unit," a press release from the Ministry of Information & Broadcasting (MoI&B) said.
Films Division, a subordinate office of Information & Broadcasting Ministry was established in 1948, primarily to produce documentaries and news magazines for publicity of government programmes and cinematic record of Indian history.
Children's Film Society of India, an autonomous organisation, was founded in 1955 under the Societies Act with the specific objective of providing children and young people value-based entertainment through the medium of films.
National Film Archives of India, a subordinate office of Information & Broadcasting Ministry, was established as a media unit in 1964 with the primary objective of acquiring and preserving Indian cinematic heritage.
Directorate of Film Festivals, as an attached office of Information & Broadcasting Ministry, was set up in 1973 to promote Indian films and cultural exchange.
National Film Development Corporation (NFDC) is a PSU, incorporated in the year 1975 with the primary object of planning and promoting an organised, efficient and integrated development of the Indian film industry.
The Union Cabinet which approved the merger of these media units in its meeting also approved the appointment of a Transaction Advisor and Legal Advisor to advise on the transfer of assets and employees and to oversee all aspects of operationalization of the merger.
While undertaking this exercise of convergence, the interests of the employees of all the concerned media units will be fully taken care and no employee will be retrenched.
Meanwhile, Bollywood has reacted positively to the decision made by Modi govt.
The umbrella organisation, NFDC, consequent upon the merger of film media units will be uniquely placed with regard to promotion, production & preservation of film content – all under one management. The vision of the new entity will be to ensure balanced and focused development of Indian cinema in all its genres-feature films, including films /content for the OTT platforms, children's content, animation, short films and documentaries.
With more than 3,000 films produced in a year, India is the largest film producer in the world. The merger of Film Media Units under a single corporation will lead to synergy amongst the various activities with better and efficient utilization of misting infrastructure and manpower. This will lead to a reduction in duplication of activities and direct savings to the exchequer.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Telegram. Join PSU Watch Channel in your Telegram and stay updated)