The Colombian popstar's rumoured collaboration with the Hindi film industry has been the subject of ongoing media speculation in India.
According to NDTV, actor Sachin Joshi outlined: "We have sealed a deal with a very high-profile international artiste, after months of negotiation. However, until all formalities are complete, we do not wish to make an announcement."
Shakira is said to be working with music composers Salim-Sulaiman on a track for the film's original soundtrack.
A source revealed: "Sachin and Salim-Sulaiman have been trying their best to lure Shakira with the double bait of big bucks and Bollywood.
"Last year, the deal fell through. This year, however, things have gone differently. They approached Shakira to do a promotional video for the movie, and to their delight, she agreed."
A report last year suggested that Shakira would be playing the role of Hindu goddess Kaali in an upcoming film.
