Highly impressed by James Murdoch's insight on the Indian media scenario, southern superstar Kamal Haasan says that the $2 billion Indian film industry should understand its potential market and gear up to upgrade it technically to be at par with the world media.

"Every year we expect changes, it's happening but slowly, according to people like me. It should have happened a bit more faster. We are not exploiting the market so it's high time we truly digitise our film industry," Haasan, chairman FICCI media and entertainment business conclave, told reporters Wednesday after the inauguration of the 12th FICCI Frames here.

"The industry should understand that there is a potential market that they are neglecting so industries have to act together if they want to perform at all," added the 56-year-old who completed 50 years in cinema in 2009. He acts as well as direct and produce films.

FICCI Frames is annual global convention of business of entertainment, but Haasan hopes to start seasonal sessions as well.

"I think there should be FICCI Frames Autum and FICCI Frames Spring (sessions). I think the strength comes from regional cinema also. Diversity is the strength of India and we should use it," said Haasan, known for his versatility on screen.

He is known for films like "Moondram Pirai", "Nayagan", "Hey Ram", "Virumaandi" and "Dasavathaaram".