Filmmaker Sanjay Leela Bhansali, whose film "Devdas" was India's entry for Best Foreign Language Film at the Oscars in 2003, believes that the Indian film industry shouldn't worry too much about the coveted US award.

"Why should we be so worried about the Oscars and why do we want an acknowledgment from foreign (film industry)? Why is that? Do they ever say that they need a National Award," Bhansali asked.

Bhansali, who is enjoying the success of his latest film "Bajirao Mastani", said he has "no idea" about his next project.

"I have no idea and that's the fun of it. I want to go into the New Year discovering new ideas. At the moment I am enjoying the success of 'Bajirao Mastani'," the celebrated filmmaker-director said.