India Inc signs Clooney, Pitt, Cage, Hanks and Carrey

Cannes - Film buffs are calling it a turning point in the history of Indian movie production. An Indian company has signed deals with Hollywood stars Nicolas Cage, Jim Carrey, George Clooney, Tom Hanks and Brad,  according to India EU Film Initiative

"With this deal, we hope to develop up to 30 scripts, of which hopefully, 10 will go into production," India's Reliance Big Entertainment's chairman Amit Khanna told AFP by phone from Cannes in France, where the firm made the announcement.

"The value of this slate of films will be worth a billion dollars," Khanna said. The films will be made in the next two years under different genres and will have a range of budgets, Khanna said.

"We will be dealing directly with top talent," he said, adding the agreements would take India to the forefront of global entertainment.

The company said in a statement: "They are part of (our) long-term strategy for media investments in Hollywood... to build a fully integrated movie company with substantial holdings in production, distribution and exhibition."

Just two days ago, Reliance Entertainment made it known in Cannes, Friday, that it was going to own India's biggest and most ambitious Entertainment company. The company executives confirmed in front of world media that Reliance Big Entertainment Limited would spend a whopping US$ 1 billion on making movies, including some with Hollywood's top stars.

"India is uniquely positioned in the global economic order. We believe this is the right time to make this commitment of $1 billion for the film entertainment business," said Amit Khanna, chairman of Reliance Entertainment.