The 61-year-old "Rocky" legend will soon become the first well-known American actor to star in a Bollywood film.

"Incredible Love," which is also set to feature Arnold Schwarzenegger, marks the first Indian production to be shot at Hollywood's Universal Studios and will have the largest budget of any Bollywood movie - over $21 million. It will co-star Bollywood stars Ashkay Kumar and Kareena Kapoor and tell the story of an Indian stuntman who takes Hollywood by storm, but can't find true love.

The production is a departure for both '80s action titans, who we hope will make the most of their debuts not playing some ham-fisted send-up of their own personas, but rather colorful, Bollywoodesque characters integral to the plot: Perhaps they could be shrunk to the size of field mice, and play tiny, multi-limbed agent-gods, forever bickering in their client's ear about the most effective way to woo a beautiful stuntprincess. Here's hoping this marks just the beginning of the Holly-Bolly cultural exchange, and that some local Indian dayplayer might soon find himself nobly gutted by Stallone's own first on a Bangalore soundstage, where production on Rocky Vs. Rambo: First Reckoning has just begun.

• Yo, Adrian! Sylvester Stallone's going Bollywood with 'Incredible Love' [NY Daily News]

So this email went out this morning announcing that there will be a huge party tomorrow night on the Paramount lot and that parking will be at capacity on the lot, so everyone go home at 5.

"This will make it more convenient for your staff to leave the lot before the crowds arrive and provide a better experience for our event guests."

I find out later the party isn't for a premiere or anything, but rather for 1000 guests from the United Arab Emirates, sponsored by Emirates Airlines.

Obviously, the UAE and has been engaged in an ongoing flirtation with Hollywood for some time now—one that extends far beyond mere amusement park plans, to include the securing of Brad Pitt's foundation-compromising design services for a new hotel in its Grove-like capital of Dubai. Whatever Paramount plans to gain from tomorrow's soiree, you can bet it's something hugely significant, as it's not just any old function that features both Brad Grey and Sumner Redstone behind a table of entree warmers, offering a friendly, "Good evening, Sultan Bin Sulayem! We're featuring cornmeal-crusted ahi and sauteed arugula tonight. Did you get a chance to see Indy yet?" as the traditionally garbed VIPs make their way down the buffet line.

• Previously: Steven Spielberg, DreamWorks Ready to Join Other Hollywood Players Outsourced to India [Defamer]