Be it the West or the East, "Indian cinema is the hottest selling ticket. Bollywood has become the flavor of the season from the US to the Middle East," said legendary actor Amitabh Bachchan Friday.

"We are getting to the world. Hindi films are being premiered simultaneously in Mumbai, Manhattan and Manchester," maintained the charismatic actor, who enthralled the audience at the India Today conclave with his masterly exposition of the myths and reality of Indian cinema.

"I am just an actor belonging to the Hindi film industry. I come here to neither praise nor bury cinema," he said in his trademark baritone.

In what was clearly a rhapsody on the power and magic of popular Hindi cinema, he spoke about the thrall of films from his childhood in Allahabad.

"Hindi cinema is an Eden-like paradise of stories, the wonderland painted in colors of everyday reality. This blend of beauty and sorcery is the secret of cinema. That magic is alive," he said.

Reeling off statistics, the actor expounded passionately on the burgeoning film industry in the "republic of entertainment."

"India makes over 1,000 films every year, with films in Tamil and Telugu outstripping the ones made in Hindi. By 2012, Indian cinema is going to be the third biggest player in Indian economy," the actor said, inviting investors to make money in Bollywood.

"Close to 90 percent of the films being made every year flop, but that doesn't stop people from dreaming of striking gold here," he added.

Bachchan, known as the "angry young man" for his early films like "Deewar" and "Zanjeer", also questioned popular myths and misconceptions about Bollywood as they lacking in substance.

"There is a misconception that popular cinema caters to the front benches and basic instincts. Some critics point out that Indian cinema instigates crime. If that were the case, Bihar, which has the least number of cinema halls, will have the lowest crime rate as well," he argued.

Speaking about the power of cinema, he said the word "filmy" and Bollywood have become a part of popular lexicon.

"Cinema is in every breath we take. Cinema is the great leveller. In the dark of the auditorium, there is unspoken sharing," Bachchan maintained.

"In Hindi films, the good triumphs over the baddies and the angels catch the devils by the horns. I once asked my father to explain the appeal of Hindi films. And he said: 'They dole out poetic justice in three hours,'" the legendary actor quipped.

"Films like 'Black' reveal the intelligence and sensibilities of Indian audiences," said Bachchan, admitting to be touched by the success of his latest film, in which he plays the inspirational mentor to a deaf, dumb and blind girl.

"Life itself has become a movie. We all have become performers and audiences for an ongoing show called life," maintained the actor.