The Union Cabinet has approved to merge its film media units, namely Films Division, Directorate of Film. Festivals, National Film Archives of India, and Children’s Film Society, India with the National Film Development Corporation (NFDC) Ltd., by expanding the Memorandum of Articles of Association of NFDC, which will then carry out all the activities hitherto performed by them.
The cabinet 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.
The umbrella organization, NFDC, consequent upon the merger of film media units will be uniquely placed with regard to promotion, production, and preservation of filmic 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.
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 reduction in duplication of activities and direct savings to the exchequer.