The buzz is that finally something concrete is happening soon.
The A-list actor is reportedly planning a cross-over flick with Anil Kapoor, his favourite Aishwarya Rai and himself in the lead.
He has been even taking advice from 'Slumdog Millionaire' director Danny Boyle, according to contactmusic.com.
Boyle has been getting good responses for his film shot in Mumbai.
He says that Smith is serious about this endeavour.
According to reports, "Will has been coming to India every few months and is scouting for actors and places. He already has a script in mind and now has approached a handful of Indian actors. Two of them are Anil Kapoor and Aishwarya Rai Bachchan."
Contact Music.com has quoted 'Slumdog Millionaire' director Danny Boyle, saying, "While we were filming there, Will Smith came over twice. There's a massive coming together of Bollywood and Hollywood. It'll only take one person to bring them together and it will be huge."
Smith also apparently met Anil Kapoor who stars in 'Slum Dog Millionaire', who confirmed that the actor recently paid him a visit.
We'll have to wait and watch to find out if Will Smith's enthusiasm pays off and this big collaboration happens soon!