Corporate Bollywood? Big B wanted it in 1995

By Claire Sibonney

TORONTO (Reuters) - Corporates investing in the Indian film industry may be in vogue but for movie icon Amitabh Bachchan it's a concept Bollywood didn't take too seriously when he introduced it over a decade ago.

Bachchan, in Toronto for the opening act of his Unforgettable Tour on Friday, said he was also happy to see Indian companies like Reliance ADA making inroads in Hollywood.

"I would like to modestly state that I initiated the whole business of corporatization in India's film industry way back in 1995 and it was something that was not very well received, it was laughed at," Bachchan told Reuters in an interview.

"But now, there are so many corporates and that's the whole way the industry is beginning to function."

Last month, Reliance ADA, one of the biggest names in Indian business, was said to be closing in on an up to $600 million deal to finance Steven Spielberg's DreamWorks SKG.

In May, the company, controlled by billionaire Anil Ambani, had signed deals with eight Hollywood production houses.

Bachchan said Hollywood continues to hold certain advantages over the Indian film industry, armed as it is with a better distribution system and technology.

But with even American corporates making a beeline for India, things could soon change.