"India has a huge market for animation films, but is yet unexplored. Hollywood has a festival out of every release of the animation film that they do. It's like a carnival for the grown-ups and for the kids, " Ranvir told in an interview.
"I don't think we have managed that in the Indian film industry as yet, " he added.
The actor of films as diverse as "Khosla Ka Ghosla" and "Singh is Kinng" is certain that homegrown animation would definitely have an audience if it improved.
"It's like the egg and chicken story, you know. How is Hollywood coming out consistently with good products -- right from 'Jungle Book' in the 60s? They are cultivating animation and it's not an overnight thing, " Ranvir said.
"So we need to do something similar here, you know. They have to find a digital voice, which is not happening right now."
"What's happening is we locally produce either like a TV serial or like a Bollywood film with singing and dancing and not doing a good animation film of it, " Ranvir said.
He said there was need to improve the way animation was made here instead of blaming the audience.
"Homegrown animation needs to improve... The audience is always ready for something good, " he added.
Production houses need to depart from Indian mythologies and create something new.
"They always go for mythologies because it already has a popular base. They are so scared of having something completely different and original, " Ranvir said.
"Animations also need budgets. We need somebody with the right script and the producers who have faith to mount that kind of production because we definitely have the talent in India. We need more entrepreneurship from the production sector, " he added.
The actor always longed to be a part of animation films, a dream fulfilled by the chance to do the voiceover for "RIO".
"I was always very keen to be part of animation films. Finally I got a chance. It was a fantastic experience. I gave voiceover for the character Nico and Vinay (Pathak) for (Pedro), " Ranvir said.
"It's a nice comedy. I would like to do more voiceovers like this, " he added.
Ranvir and his wife Konkana Sen-Sharma became the proud parents of a son recently.
"I am very happy becoming a father. We are settling into a new life, " he said.
The couple tied the knot last year and Konkana gave birth to their first child March 15 this year in a South Mumbai hospital.
Indian animation films have tended to focus overwhelmingly on mythologies such as "Arjun - The Warrior Prince" or "Lav Kush - The Warrior Twins".