Tamil superstar Kamal Haasan Thursday voiced his concern over the declining growth of Indian film industry.

Kamal, also the Chairman of Media and Entertainment Business Conclave (MEBC) of FICCI, said the growth of the Rs.60, 000-crore cine industry has come down from 18 percent to 14 percent in recent years.

He, however, disagreed with the view that sky-rocketing fees of stars is one of the reasons for the downfall of the industry.

"We tried to cap the rates of remuneration. But the remuneration is determined by the demand for a particular actor, " he said at a press conference here.

With the banks willing to pump in money, the actor feels the industry would regain its glory.

A two-day MEBC conclave will begin here Dec 1 and issues related to media including raising production costs will be discussed here along with the solution to challenges faced by the industry across the nation.

To be inaugurated by Andhra Pradesh Chief Minister K. Rosaiah, the event will showcase the huge potential for developing the Indian entertainment market in South India with a view to forging global linkages.

"During the conclave, delegates will be exposed to global and Indian developments with regard to trends and opportunities in the entertainment industry, business possibilities and regulatory regimes in different countries, " he said.

About 800 media and entertainment business people from India and overseas, along with officials of the Andhra Pradesh and the central governments, will participate in the business event in a bid to deliberate on issues confronting the industry.

The conclave will cover the entire gamut of media and entertainment like films, broadcast (TV and radio), digital entertainment, animation, gaming and visual effects.

Union Minister of Information and Broadcasting Ambika Soni, Bollywood filmmaker Yash Chopra - chairman of FICCI Entertainment Committee; Karan Johar who is the co-chairman of the FICCI Entertainment Committee; Subhash Chandra, chairman of Zee Group; Uday Shankar - CEO of Star India Private Limited and Kamal Haasan will address the meet.

Kamal said the MEBC effort has united the film industry and the Hyderabad initiative will help Telugu film industry to get its due recognition.