India's flourishing film industry must adopt the best corporate practices to become a major player in global entertainment, said Infosys Technologies chief mentor N.R. Narayana Murthy Wednesday.

Addressing the concluding session of a three-day entertainment industry summit "Frames 2005" here, the tech industry leader urged filmmakers to enhance transparency and accountability.

"Corporatisation of film industry has to be achieved. With corporatisation, you get the power of scalability," Murthy told the Indian and global entertainment industry leaders here.

"As you corporatise, try to attract investments from all across the globe. If you want investors to come in, then you have to uphold the highest level of corporate governance," he added.

According to Murthy, the Indian media and film industries must look at the global marketplace by developing quality products.

"The industry needs to benchmark itself with the best in the world and higher aspirations. If you want to capture the global market, you need to have global themes," he added.

Like the IT industry, the film industry, too, should enhance the usage of technology to create quality products for the domestic as well as overseas markets, he said.

"You must seriously think about recruiting, training and retaining best talents available in the country. In terms of imagination, our youngsters are second to none and you must tap their potential," he told the conference.

The Indian film industry - dominated by the prolific Hindi cinema production factory or Bollywood - is the largest in the world, producing about 1,000 movies annually.

Apart from the growing international success of Indian-themed films like "Monsoon Wedding", "Bend it like Beckham", and "Bride and Prejudice", global curiosity about Bollywood is on the rise.

The Indian film industry is expected to grow annually at 16 percent to cross the Rs.100-billion mark by 2007 and reach Rs.143 billion in 2010, says management consultancy firm KPMG.

Emphasising the need for quality certification process in the filmmaking business, Murthy said the entertainment industry should explore the possibility of setting up training institutes for all its stakeholders.