The National Museum of Indian Cinema (NMIC) in Mumbai. Indranil Muhkerjee / AFP
The National Museum of Indian Cinema (NMIC) in Mumbai. Indranil Muhkerjee / AFP
The National Museum of Indian Cinema (NMIC) in Mumbai. Indranil Muhkerjee / AFP
First museum of Indian films opens in Mumbai
The government-funded National Museum of Indian Cinema, set in an elegant 19th century heritage bungalow in south Mumbai, traces Indian cinema’s history from the black-and-white silent era to its musical modern blockbusters.
The Indian film industry has been turning out an average of 1,500 films every year for more than a century – and finally it has a museum worthy of its prodigious creativity
Seven years in the making and costing nearly US$20 million (Dh73m), the first Indian film museum is set to open in the home of Bollywood, more than 100 years after the country’s celebrated movie industry was born.
The government-funded National Museum of Indian Cinema, set in an elegant 19th-century heritage bungalow in south Mumbai, traces Indian cinema’s history from the black-and-white silent era to its modern musical blockbusters.
“It’s about time India had its own film museum. We have archives, but not a museum and today a museum can become vibrant because of technology and interactivity,” said the curator Amrit Gangar.
Spread across two floors of the 6,000-square-foot building, the museum showcases original artefacts, memorabilia, recordings and filmmaking tools. Visitors can see an original painted poster for the 1957 epic Mother India and listen to songs by K L Saigal, considered the first superstar of the Hindi film industry.
The idea is to celebrate not just Hindi-language Bollywood, but also the films made in the various regions and languages across India, a country that produces nearly 1,500 movies a year.
“All the filmmaking centres of India have been represented,” said Anil Kumar, the head of marketing at the government’s Films Division, who said the museum was ready and would open within the next few weeks.
The curators of the project were faced with big gaps in the country’s rich cinema heritage – many of India’s early films, for example, were not preserved.
The last remaining print of India’s first “talkie”, the 1931 film Alam Ara (The Light of the World), was destroyed in a fire in 2003.
“Many things have been lost. We have only one per cent of early silent films left. Therefore this is not a museum of collections but a museum of information, interaction and education through a sensory experience,” said Gangar.
Procuring original memorabilia was also a challenge for the museum, say its creators.
“We didn’t get much, but we got a few things through donations and purchases. Many things have previously been amassed by private collectors,” said Kumar. “This museum will be more educational.”
Via a touch-screen panel, visitors can watch clips from the few remaining silent films such as Prem Sanyas (The Light of Asia; 1925) and Prapancha Pash (A Throw of Dice; 1929).
Among the moving pictures featured is Raja Harishchandra, the first all-Indian feature film brought to the silver screen in Mumbai on May 3, 1913.
Kumar said the museum would take visitors “through the journey of Indian cinema, from pre-cinema to the silent era to talkies to songs, the studio system, new wave and digital”.
Unlike Hollywood, a physical place in Los Angeles, the term Bollywood is a nickname for the Hindi-language film industry that is largely centred on Mumbai.
Much of the studio action now happens in the Film City complex in the city’s north – or in picturesque locations abroad – while old heritage gems, such as the once-famed Bombay Talkies studio, have been left to deteriorate in recent decades.
But a few projects have sprung up to celebrate the city’s movie history in recent years. In 2012 a Walk of the Stars was set up on a seaside promenade in the style of Hollywood’s Walk of Fame.
Ahead of the industry’s centenary last year, a Mumbai artist also began painting giant murals of classic film posters on the walls of the street.
Tourism officials of Maharashtra state, of which Mumbai is the capital, have recently begun offering Bollywood Tours, including drives past the homes of the stars and visits to Film City’s studios and costume galleries.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
What the law says
Micro-retirement is not a recognised concept or employment status under Federal Decree Law No. 33 of 2021 on the Regulation of Labour Relations (as amended) (UAE Labour Law). As such, it reflects a voluntary work-life balance practice, rather than a recognised legal employment category, according to Dilini Loku, senior associate for law firm Gateley Middle East.
“Some companies may offer formal sabbatical policies or career break programmes; however, beyond such arrangements, there is no automatic right or statutory entitlement to extended breaks,” she explains.
“Any leave taken beyond statutory entitlements, such as annual leave, is typically regarded as unpaid leave in accordance with Article 33 of the UAE Labour Law. While employees may legally take unpaid leave, such requests are subject to the employer’s discretion and require approval.”
If an employee resigns to pursue micro-retirement, the employment contract is terminated, and the employer is under no legal obligation to rehire the employee in the future unless specific contractual agreements are in place (such as return-to-work arrangements), which are generally uncommon, Ms Loku adds.
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Mohamed El Shorbagy (EGY)
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Simon Rosner (GER)
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