The yet-untitled film will see Shah Rukh playing a dwarf and Rai says the project is an important project for both of them.
"It is a very important film not only for me but for all of us... Because it is one of its kind. It has a unique content. I have a reason to tell this story. I want to raise the bar for myself everytime I make a film," Rai said in an interview.
"We start shooting the film in December. I will announce the actress in a month's time."
Rai is gearing up for the release of his production "Happy Bhag Jayegi", which stars Abhay Deol, Diana Penty, Ali Fazal and Jimmy Sheirgill.
Also Read
The filmmaker says he is enjoying his stint as a producer.
"Producing a film is a tough choice... Direction comes naturally... I enjoy telling stories... I am not making movies that quickly so why not I help others tell their stories."
Abhay, who plays a Pakistani boy, hopes people will come and watch the cross-border comedy.
"If an artiste wants to make a comedy film then why not put that out because it is another alternative to fighting with guns. Why shoot with a gun, you can shoot with a camera as well.
"Culturally we are not very different. In seventy years, no one can wipe out thousands of years of same culture. I hope people will watch it," Abhay said.
Disclaimer: No Business Standard Journalist was involved in creation of this content