The action comedy will be helmed by ‘Salaam-e-ishq' director Nikhil Advani while Indian shingles Ramesh Sippy Prods. and Orion Pictures will produce it.
Sippy insisted that the film was a step towards globalizing Indian cinema.
"At the turn of the century, there was a lot of promise in the air about globalization in Indian cinema, and now, with this venture, RSE and Orion are joining hands with Warner Bros., bringing that dream closer to reality," Variety magazine quoted Sippy, as saying.
Blaise Fernandes, country manager, Warner Bros. Entertainment India insisted that the production house was ‘excited' to work with Sippy and was looking forward to making a successful film.
"We are excited and proud to be working with such respected partners as Ramesh Sippy and Orion. We'll count on our partners' expertise and will do everything in our power to make a well-crafted, popular and successful Indian film," Fernandes said.
The Hindi-language flick will star actor Akshay Kumar and model-turned-actress Deepika Padukone.
Akshay will play a lowly Mumbai cook who is mistaken for a martial-arts master.
The film was penned down by Sridhar Raghavan, who wrote the script for Abhishek Bachchan starrer ‘Bluff Master'.
The film whose budget is not yet disclosed is reportedly the first Hindi film to be shot in China.
Earlier Viacom, Sony and Disney have made films in India in a bid to increase Hollywood's share which accounted for only 8 percent in 2006.
With the number of multiplexes increasing the Indian box-office is growing and instead of bringing Western influence into the movie biz, the Hollywood plans to tap on Hindi movies.
Other Hollywood projects in India include Sanjay Leela Bhansali's ‘Saawariya', backed by Sony Pictures, Disney's pact with Yash Raj Films to helm ‘Roadside Romeo' and other animated projects and Viacom's joint venture with the Network-18 group which initially focuses on smallscreen ventures.
The pact sees Viacom as an equal partner in the Indian Film Co., which has already committed for two pics from Sohail Khan Prods., both set to star Salman Khan.