UAE-based Aries Group's Indywood Consortium has announced plans to invest $10 billion in India and the Middle East as part of its Vision 2020 strategy.
Aries Group chairman and CEO Sohan Roy said the company would open multiplex screens, home cinemas and animation/film schools over the next five years, creating hundreds of thousands of jobs.
He said that the group will also produce movies, adding: "We will promote young talents through movies and it would be a golden opportunity for them to showcase their talents."
The Indywood consortium initiated by Aries Group is an umbrella network connecting 2,000 influential and wealthy individuals with the potential of India’s multi-billion dollar film and entertainment sector.
The consortium plans to produce 1,000 movies over the next five years, with added focus on the Indian animation and television industry. Integrated dubbing centres and film schools are also part of the process.
It further aims to add 1,000 screens in India by 2020 and hopes to inspire more investors to invest in the country’s cinema industry.