Besides exhibition of movies, film festivals also serve as a platform for aspiring filmmakers to "showcase their talent" and "understand monetization", said Bollywood filmmaker Mukesh Bhatt Friday at the 15th edition of the Mumbai Film Festival (MFF).

He was speaking at the opening ceremony of Mumbai Film Mart (MFM), an initiative to promote completed or under-production films with international buyers.

"I definitely agree that festivals like this are a great opportunity for young, independent filmmakers to showcase their films and talent. This platform also helps them understand how they can monetize from non-traditional territories across the globe," said Mukesh, also the President Film & Television Producers Guild of India.

"The cost of making films is getting frighteningly expensive. To combat this, you need to tap all these markets so that you can fulfil your creativity in the best possible way. This platform could also used to receive talent the world has to offer us," he added.

Bhatt also welcomed the Spanish delegation, one of the exhibitors at the event.

"I have had the privilege of spending beautiful moments in Barcelona, Spain over the years. We are culturally very close and I feel we can do great things together. Spain is amazingly beautiful. From the perspective of a filmmaker, I make four to five films a year and I personally feel that I can't shoot less than 20 in Spain," added Bhatt.

Indian actress Nandita Das inaugurated the event along with Susana De La Sierra, director general of the Institute of Cinematography and Audiovisual Arts (ICAA), the public body responsible for regulating and financing cinematographic activity in Spain.