MUMBAI, September 2, 2013 (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 Monday. The Associated Chamber of Commerce and Industry of India (ASSOCHAM) says that the amount spent on Bollywood movies outside of India in the past four months has declined by 30 to 35 percent compared with the previous four-month period.
The Indian rupee has fallen 20 percent 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 D.S. Rawat, secretary general at ASSOCHAM, based on their survey of nearly 50 directors.
Those still filming abroad, especially mid to low budget movies, are looking for alternatives to Europe and the United States such as Sri Lanka, Dubai and Thailand, Rawat said.
They are also reducing the amount of days they spend on the set and looking at budget accommodation options, he added.
The declining rupee