Hollywood-Bollywood deal signed

Hollywood and Bollywood have signed a pact to strengthen production, distribution and commercial ties.

According to a statement from the Motion Picture Association of America, the two largest film industries have signed a declaration to "develop and strengthen motion picture production, distribution, technology, content protection and commercial cooperation."

Paramount Pictures CEO Brad Grey said of the agreement: "This groundbreaking collaboration will yield more co-productions and alliances, greater films and a stronger global film industry."

The statement also said they would support the creation of the Los Angeles-India Film Council to increase Indian film production in Los Angeles.

In 2010 Kites and My Name is Khan were filmed in Los Angeles.

"India has always held a fascination for Hollywood, and this agreement pulls us closer together with the aim of sharing ideas and best practices on domestic and international film production,” said Bollywood producer Bobbi Bedi.