It is a sound principle of finance and a still sounder principle of government that those who have the duty of expending the revenue of a country should also be saddled with the responsibility of levying and providing it.
If the Indian people want stories written about themselves how they want them told they are going to have to make them they're going to have to finance them. If you let Hollywood do it Hollywood is going to get it wrong most of the time.
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In Australia they set up a special fund to kick films off. It was quite an enlightened sort of move. You could go to this government bureau with scripts and and get finance for films.