Veteran actor Dilip Kumar will inaugurate the festival with Union Information and Broadcasting Minister Jaipal Reddy as one of the chief guests.
A R Rahman's musical show, based on compositions of Subhash Ghai's film Kisna, will follow. About 60 musicians will accompany him.
Mira Nair's Vanity Fair will be the first movie to be screened. The new Hollywood release, Alexander, will battle for eyeballs on the closing day, December 9.
The state government's Entertainment Society of Goa has created a beautiful ambience along the Mandovi river in Panaji for the festival. A glitzy multiplex and the newly-renovated Kala Academy complex are salient features.
"The riverside on the Dayanand Bandodkar Marg will be converted into a film festival venue. Film professionals can meet, interact, debate and exchange experiences here," says IFFI Director Neelam Kapur. Goa would be the ideal permanent venue for IFFI, she feels.
Hollywood stars could not be contacted to attend the festival due to time constraints, say the organizers.
At least 200 films and 2000 delegates are expected, mainly from within the country. About 800 delegates and 90 films are confirmed as of now.
Besides important films at the four-screen multiplex for the juries, IFFI will also screen Indian and regional films in other theatres.
Text: Sandesh Prabhudesai in Panaji | Photograph: Getty Images