The film directed by Anurag Kashyap, Dibakar Banerjee, Zoya Akhtar and Karan Johar, weaves together four stories and stars Rani Mukerji, Randeep Hooda, Nawazuddin Siddiqui besides special appearances by Amitabh Bachchan and Aamir Khan.
"'Bombay Talkies' gala screening at Cannes... Yay," Kashyap posted on Twitter.
The prestigious film festival today unveiled the impressive line-up, while announcing another Indian film Amit Kumar's 'Monsoon Shootout' in the midnight screening, a non-competition category.
"It feels great to have two of my films this year at Cannes as both are quality films. Working with Dibakar in 'Bombay Talkies' was great because he made me prepare a lot. I have known Amit Kumar for a long time as I have previously worked in BAFTA winning short film 'The Bypass'," Nawaz told PTI.
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The festival will have significant Indian presence this year to celebrate the centenary of the country's cinema.
Megastar Amitabh Bachchan, who has a cameo in Baz Luhrmann's 'The Great Gatsby', will be present at the film's premiere on day one of the festival. The Leonardo DiCaprio starrer will open Cannes film fest this year.
This year's Cannes film festival will run from May 15 to 26.