Indian multiplexes are cautiously ready to bounce back, says Anand Pandit

Anand Pandit, one of the many producers who put on hold the release of a film in 2020, is very optimistic about the industry which, according to him, is resilient and is showing signs of a strong revival.

His film 'Chehre'  had to wait until 2021 for a theatrical release. The pandemic had not just locked up one of the most prolific film industries in the world but also affected multiplex owners and exhibitors deeply.  

According to media reports, the country's media and entertainment earnings fell by a quarter to $18.7bn last year, with most multiplex chains suffering big losses and theatres shutting down in hundreds.

But an optimistic Anand Pandit says: "We are a resilient industry and have faced enormous challenges since our inception. The pandemic has been one of the biggest road bumps but we are now ready to surmount it. I especially feel happy for Indian multiplexes as now they have opened up in Maharashtra and most parts of the country. If trade reports are anything to go by, this will help clear a backlog of films whose production costs run in billions. A strong revival seems on the cards. "

Pandit says: "The festive season is usually the most lucrative for the industry. Indian multiplexes, producers and stakeholders within the industry are cautiously ready to bounce back with the hope that there are no more curve balls ahead. The fact that there is a semblance of normalcy, footfalls are increasing in theatres, releases around the world are doing well, bodes well for now and we are all hoping for the best in 2022."

Pandit's next project 'Thank God', headlined by Ajay Devgn, Sidharth Malhotra, and Rakul Preet Singh, is expected to release in July 2022.