Indian films are famous all over the world and the reach is increasing year after year. Everywhere I go.I see in casual conversations the conversation invariably veers towards the Indian film industry. Pl. do not confuse just bollywood (hindi films ) with Indian film industry – very good films are produced in other indian languages in large numbers – Telugu, Bengali, Tamil etc.. The film industry is largely seen to be in the unorganised sector category and frozen in mindset - though themes are getting more modern, technology improving and lot more talented young people are making their mark in non-acting roles in the industry. Shekar Kapur once said that the indian film indusry will begin to be seen as a powerful force in the next 2/3 decades globally.The film industry needs to have a global mindset and needs to have lot more professionals of diverse nationalities and culture beginning to work as part of the industry. Narayana Murthy, Chief Mentor of Infosys, provides a 5-pt plan for film industry to grow further.
1.Have a global mindset - Indian film industry needs to produce where it is most cost-efficient, source capital from where it is the cheapest, and sell where it is the most profitable. The Indian film industry is similar to the IT industry - The film industry is knowledge based, where talent is crucial and creativity very high. The rules of globalization apply very well to the film industry and media.
2. Benchmark with the best – The industry needs to have very high aspirations,- the only way to achieve this was to look at serving mainstream markets in the world and not just ethnic markets abroad."To achieve that, one needs to make movies with global themes that have relevance outside India - like adventure and history." Hollywood last year made 250 movies that grossed $32 billion worldwide. India in contrast made 800 films, which did business of just over $1 billion.
3.Scalability through corporatisation -If one needs to make movies with a global audience in mind, one needs to scale up fast. Scaling up, could happen only if the film/media industry was corporatised- In order to scale up the industry needs high quality human resources & this is a common challenge to the IT and media/film industry. The challenge always is how to recruit, train and retain youngsters. And this a challenge that can be addressed only if the industry is corporatised. Corporatisation will ensure that the organisation is meritocracy driven and will help organisations retain the best talent, with the result that the value of the organisation goes up.
4. Success through project management -Project management skills have contributed to great success in the IT industry and these skills are needed in the film industry.
5. Go for quality certifications The industry needs to formulate/adhere to quality certifications like the Indian IT industry has done through the use of certifications like SEI CMM and ISO, - this would definitely have an impact on the kind of movies being produced.Quality is important and the industry needs to go in for such certifications that are available for their industry.
The industry has so much of talent and opportuntity and global reach - if only it gets corporatised and begin to embrace modern professional management practice - good future lay ahead for the industry.