"Bollywood film industry has changed over a period of time and the changes are good. It has excelled in technology. However, changes in terms of lyrics have taken a back seat, " he said before entering the Film Bazaar section, which was inaugurated alongside IFFI, on Tuesday.
"The industry contributed good and sensible lyrics in the past, " he added.
With several Filmfare awards in his kitty, Yash is gearing up for his forthcoming flick but he preferred to keep it under wraps for now.
Speaking about IFFI being held for six consecutive times in Goa, Yash seemed dissatisfied with the arrangements. "The state has to thoroughly work on uplifting the festival strata, if it has to bring it to the level of Cannes film festival, " he said.
The 1932-born had his directorial debut with the movie 'Dhool Ka Phool' after which he set up his own movie production house 'Yash Raj Films' under which Daag (1973) was the first movie.
The veteran has till date directed and produced several successful movies including Silsila, Chandni, Kabhi Kabhi, Veer Zara, Dil To Pagaal Hai, Hum Tum, Dhoom and other.
Back to IFFI, the Padma Bhushan awardee suggested Goa Government to rope in as many corporate houses for sponsorships to upgrade the festival and 'make it more meaningful.'