Bollywood cuts costs by a third as rupee collapse bites
MUMBAI (AFP) - Bollywood producers have long been fond of filming in exotic foreign locations, but the spiralling Indian currency has seen spending on movie sets abroad drop by one third, according to a study released on Monday.
The Associated Chamber of Commerce and Industry of India (Assocham) said the amount spent on Bollywood movies outside of India in the past four months has declined by 30 per cent to 35 per cent compared with the previous four-month period.
The Indian rupee has fallen 20 per cent since May, leading some filmmakers to prefer to stay and make movies in picturesque domestic locations such as the northern Kashmir and southern Kerala states, the report said.
"Spending by Indian producers to overseas locations has fallen sharply in the recent months as they are looking for cheaper options," said Mr D.S. Rawat, secretary-general at Assocham, based on their survey of nearly 50 directors.