Directed by Aashish Chanana, "Magik" is the story of an underdog child who rises above his circumstances with the aid of magical powers.
"We worked on the film's pre-production for over a year. It was only after we had a bound script in hand and character designs ready that we got into production," said Chanana.
"Our target audience includes kids across the globe. I am sure everybody will identify with the theme as well as the treatment, which is universal in nature," he added.
"Magik", he claims, has been created on the same lines as major Hollywood projects "Shrek" and "Finding Nemo" and will have similar universal appeal.
The other animated offering at Cannes, director Soumitra Ranade's "Friends Forever", is a love story in which Hrishitaa Bhatt's fr iend is a 3D animated character - Zampano.