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As Bollywood wraps up yet another hugely successful year, one when its box office take was estimated at US$1.75 billion ($2.69 billion), claims have been made that Indian cinema has crossed the "final frontier" with its entry into mainstream Western markets.
Of course, much of the credit must go to the growing number of South Asian expatriates worldwide.
So, just what is it that makes Bollywood movies connect with audiences - Indian and otherwise?
As superstar Amitabh Bachchan put it: "I think the content of our stories is very human, the values that we have always preached throughout the years are values that any family in any part of the world would want to inculcate, would want to be a part of.
"The emotions all over the world are the same. Cinema doesn't really need a particular language to be understood."
Little surprise that Bachchan's latest movie, Baabul, is all about family.
Another movie that had the cash registers ringing this year took a different approach to family. It homed in on the aspirations and challenges faced by the growing middle class.
Kabhi Alvida Na Kehna took on the issue of relationships and addressed them in a bold new way: It recreated a bit of Bollywood in New York, where the movie was shot.
Its director, Karan Johar, who has churned out a number of hits over the years, had his own take on the industry's success: "I think our content has changed in the past decade, our films are suddenly of an international standard.
"We also make films that make you sing, make you dance, make you laugh, make you cry, almost live a lifetime in a span of three hours. I think that format really excites the West."
Another blockbuster, Lage Raho Munnabhai, defied Bollywood tradition by going back to the teachings of the apostle of non-violence - Mahatma Gandhi.
Through fun, song and dance, it revived interest in the teachings of Gandhi worldwide and even got the nod of approval from Indian Prime Minister Manmohan Singh and the nation's Parliament.
Things didn't stop there. Bollywood darling Kajol made a comeback by starring - for the first time - with superstar Aamir Khan in Kunal Kohli's Fanaa.
Speaking of superstars, there was no stopping Shahrukh Khan. He capped yet another successful year with Farhan Akhtar's Don. And made a leap of sorts by moving to the small screen as host of India's version of Who Wants to Be a Millionaire.
From making millions and capturing the hearts of viewers from Mumbai to Manhattan, Indian film-makers also took on the hot issues of the day.
On the one hand, mainstream films including Dhoom 2, Krrish, Omkara and Rang De Basanti appealed to the masses.
On the other, movies such as Kabul Express both charmed and won critical acclaim at key festivals around the world.
The film - inspired by director Kabir Khan's experiences with the Taliban in Afghanistan - shattered some myths about the Afghanistan we have come to know.
With so many super-hits to its credit, 2006 has been rated as the "Best Bollywood Year".
Deepika Shetty is a producer with Channel NewsAsia's breakfast show Prime Time Morning.
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