Part of the Hindi film, which stars Indian actor Salman Khan, will be shot in Korea.
"Producer Sajid Nadiadwala reportedly wants to include the track as an item number in his next action flick Kick. It has been said that Salman wishes to acquire the rights of the song," a source revealed.
Khan is expected to perform to the international hit with signature Bollywood choreography.
The insider added: "Salman will create his individual dance style even in this K-pop number. Psy has been travelling all around the world teaching his dance style to others. But maybe when he visits India he will get to learn the Salman version of 'Gangnam Style'."
Nadiadwala received an invitation from the Korea Tourism Organisation last year to visit the country, later agreeing to shoot portions of the film in Korea.
Bollywood actors Shah Rukh Khan, Amitabh Bachchan and Katrina Kaif recently performed the track on Kaun Banega Crorepati?, the Indian version of Who Wants To Be A Millionaire?.
Watch the video for 'Gangnam Style' below: