The USD 22 million biopic on Tang dynasty scholar and traveller Xuan Zhang will hit 6,500 theatres retelling his odysssey that has become an enduring legacy of the cultural ties between the two countries.
The first Sino-India co-production, besides location in China, in India it was shot in Nalanda in Bihar, Daulatabad and Ajantha and Ellora caves in Maharashtra.
The biopic's Hindi version is due for release in December.
Chinese actor Huang Xiaoming essays the role of the famous monk who brought important Buddhist scriptures from India to China and translated them.
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"It is one those movies which showcase real cultural exchanges between the two countries. It is a first step of India and China relations. It is a perfect start for more production to follow", Shetty told PTI here.
Born in seventh century, Xuan is a celebrated icon in India, his journey still remembered fondly by experts and laymen alike.
The agreement for the co-production was signed during Prime Minister Narendra Modi's visit to China this year.
The other two India-China co-productions include "Kung Fu Yoga", by Hong Kong-based director Stanley Tong, and comedy film "Lost in India", featuring the star from China's 2012 blockbuster 'Lost in Thailand'.
These are also expected to be released this year.