Well , watched Avatar yesterday and needless to say , was deeply  Impressed ! The Special Effects , apart from the great storyline , were  Mind-Boggling ! James Cameron is one man whom I was all praises for .  After Titanic , this is his best movie ! 
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But this aint an AVATAR  APPRECIATION THREAD ! The purpose of me creating this thread is to  discuss the vast difference between the developments in Hollywood and  Bollywood. There was once a time when Hollywood had movies with special  effects equivalent to what we have now in Bollywood . I still remember  the hype YRF had created when Roadside Romeo was ready for release .  They boasted of Hollywood type animation but well , it was'nt much of a  difference . Though Bollywood has advanced in many phases , this is one  field they have yet to cover . 
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AVATAR has an estimated budget  of 300$ Million and yeah it looked the cost . Though Bollywood directors  boast of high budget , still they fail to create that magic . 
.Bollywood is 1007 times better than Hollywood
In Bollywood there  is action, drama, emotion, romance, comedy all in one movie, In  hollywood you have to see 5 movies.
Actually in the next 10 years hollywood will copy and blend itself to  Bollywood style no matter techincal or budget or whatever, now Anil  Ambani gives money to Stephen Speilberg to make movie so it doesnt  matter.
Moreover In India the canvas is too big.On One end there is  Himesh Actor/Singer/Music Director and what not , other end Om  Puri/Naseruddin, Songs and Dance Hollywood actors now want to dance  around trees with songs, so who is getting inspired.
Very soon you  can see hoe it all chnages, Brad Pit will act in a Bhojpuri Film, Tom  Cruise in a Tamil Film etc. 
Sorry guys Bollywood  zindabaad. Ramsay brothers turned in their grave.
RGV created 13 more thrilling  horror movies with more chutiya-tomatic schemes to get audiences in.
Producers  thinking of hogging their money over re-makes and sequels just with the  thought of a Hollywood actor acting in it.
So  when will this gap ever finish ? Have Bollywood directors yet to face  such experience ?
Hollywood is definitely better than Bollywood, no doubt. 
Do not stereotype Bollywood or Hollywood.
In certain aspects,  Bollywood is better & in certain other aspects, Hollywood wins the  race.
But if u talk about the special effects department, no offence,  but Bollywood cannot reach the level of Hollywood, not in the next 10  years at least!! 
But I  rarely watch Hollywood films. So for me, Bollywood is good but yeah,  considering we've got all the resources, I don't see why we cannot make  films of Hollywood standards.
Our high budget movies are equivalent to their normal movie.... 
Why,  there is a very simple reason, and that we are still not a developed  country. We still doesnt have that kind of money and freedom. 
They  invest 100 million in a movie and give director complete freedom. 
here  even if they put 10 million they will put their leg in between. Here  directors do not have that kind off freedom. Given a chance with  hollywood kinda resources, i think we have better talent.
ummm.. well to be honest, the budget of a multi-starrer sci-fi action  hollywood flick is 10 times higher than a normal bollywood flick.
Just  like u said, bollywood directors may boast about the high budget of  their movies but still they are nowhere near as compared to a normal  hollywood flick. That might be one of the reasons.
Without any doubt,  there's no lack of talent in India, but, difference in the budget,  different in choice of audiences might be the reason why most Indian  movies are restricted to the romantic/drama genre.
Walt Disney, perhaps the greatest creators of movies invested a huge  deal to combine a superstar of India with something of what was his  hobby in a movie binding with China.
The movie was released and  flopped and people called the move/investment a Shit deal/
The  superstar was Akshay Kumar after 5 consecutive hits in 2008 and the  movie was Chandni Chowk to China. [I can run amock with abuses for this]
If  the news you talking about gets in motion and gets stalled OR the movie  gets released and flops with these 35+ year old Hollywood actors  dancing around like shit on some random Bollywood song with bad ass  lyrics, where will the future lie? 2012 had most earnings from India.
So an Indian Production house  will see business sense in investing in Hollywood technologies, their  way of making movies, get their directors, their actors, punch it with a  flair of bollywood masala and I forsee not very far away Indian  Mythological movies gaining cult status as Harry Potter or Lord of the  Rings.
If we have the money to pour, I cant see how we cant rule  it all.
The question arises, Do you really want to see Jim Carrey/Johnny  Depp/Nicholas Cage/Any-Random-Hollywood-Actor dancing around the trees?
If  the blend has to happen, it must happen with a sense.
Hollywood  actors are best in what they do & so are Bollywood stars. Obviously,  the comparison is inevitable but is this comparison justified?
Though  u can compare "Pyaar Ke Side-Effects" with "My Sassy Girl"
but i  cant compare PYSE with "Surrogates".
Bollywood is known around the globe for good romance/love stories.
But  Hollywood has set the standards in all the genres, world-wide.
Just  like the above example of CC2C or Kambakkht Ishq, Indian makers have to  come out of the mind-set, & same is for the audiences here.
Even  if someone tries to make a sci-fi movie in India, he/she blends  love-story with that sci-fi plot & as a result, the sci-fi plot  takes a backseat.
I am taking about future. Now Indian billionaries are buying parts of  the world business space be it in any field.
Ok let me ask you a  question you r Anil Ambani, you have a production house, you spend  billions in Bollywood, but you see there are movies like 2012 earns  maximum of its money from India, where will you produce next, Obviously  you will buy into hollywood, and keep the profit.
And When this  trend gets heavier slowly these two industries have to meet like Slumdog  millionaire, Hollywood movie with Bollywood spice thrown in here and  there.
You have the money, you have the audience, to buy the  technology and get the get the best script writers and actors is no big  deal, so max 10 years, I think the bridge will be gapped and we will be  at par with the best. ummmm... plot-wise, Indian makers need to come out of the shell of  love-stories.
We have experimented on all sorts of weird concepts in  the Romance/love/drama genre & still we are going good. But, we need  to come out of this mind-set. Why can't we have more murder mysteries  or animations or fantasies or thrillers?
The European Cinema, British  & French movies mainly, have been exposed to all these genres years  ago. But Bollywood is still waiting for the exposure to happen.
But  Bollywood has a stereotypical image world-wide. We need to come out of  that image.
The day we break this image, will be the day when u'll  see Hollywood stars working side-by-side with Bollywood stars in a  sci-fi flick.
Will Smith on his visit to India(around the release  of Hancock) said "i desperately want to star in an Indian movie but  Bollywood producers cannot afford the concept that i have in my mind
Kung-Fu Panda
Po: My tinders(when his male specific organ gets  hurt)
Chandni Chowk To China
Sidhu: mere akhrot(same  scene. ditto)
Since then, i started hating Akshay Kumar X-(
USA is more than 10 years ahead of India in technology, so the gap will  still remain unless Indian government don't force youth to leave India  owing to the lack of support and corruption from their side.
According to bollywood history, what we have seen so far has been  disappointing
in terms of story, technical aspect
what'll happen  in future, only future can tell
but fortunately some people are  trying to change the scenario
anurag kashyap, dibakar banerjee n  forgive me whose name i can't remember now
at least on the concept  basis
cause this is a well known fact hollywood is far ahead in the  technical department
but plot wise also Indian film industry is  lagging to european cinema 
Most  of the animation models are outsourced from India btw as India itself  lacks a good production house
What Say !
will continue later