The actor, who came to international attention after starring in Danny Boyle's Slumdog Millionaire, went on to star in MI4: Ghost Protocol with Tom Cruise.
Speaking to IANS, Kapoor said: "India is making a huge mark now. There are four films with Indian presence which are contenders for the Oscars."
The 54-year-old, who was recently seen in Race 2 , said that it's also a great time for emerging talent in Indian cinema.
"It is a great time for newcomers. There is Imran Khan, Varun Dhawan, Siddharth, Ranbir Kapoor... Today's generation loves to make their own choices and take their own decisions and when they are really stuck they come to ask for advice," he said.
"I would love to work with her again and I am sure we will. It has to be something which we have never done before - a role, a script which we have never done. I don't want to repeat what we have done. Of course, we have to play our ages," he explained.
The actor, who also played President Omar Hassan in the eighth season of the US TV show 24, will take on the lead role played by Kiefer Sutherland in the Indian version.
Kapoor stars in the forthcoming gangster thriller Shootout at Wadala with John Abraham.
Watch the film's trailer below: