A report titled 'Is Delhi India's Next Film City?' will be handed over to the government by Neville Tuli, chairman of the Osian Film Festival, reports Live Mint.
Speaking at the event, lyricist Prasoon Joshi said: "Bombay is a film destination by luck, by chance. Delhi can be a film destination by design."
The report outlines an emerging movement towards creating 'Dollywood', an alternative film hub based in the national capital.
"There is a huge potential for film activity in Delhi, at least as a resource hub," outlined Mangal Pandey producer Bobby Bedi.
"Every time I need a truck or a crane, it shouldn't have to come from Bombay, as it does at the moment. Delhi can be a satellite to Mumbai just like New York is for Los Angeles."
India's other film industries include Tollywood, Kollywood and Sandalwood.