Only three Indian filmmakers and their works have found a place in the list - Satyajit Ray's "The Apu Trilogy" comprising "Pather Panchali", "Aparajito" and "Apur Sansar"; Guru Dutt's "Pyaasa"; and Mani Ratnam's "Nayakan".

The selection has sent ripples of dismay and disapproval through the film industry. One enormously influential and successful filmmaker who doesn't want to be quoted thinks the list smacks of Western ignorance.

He said: "Who and what gives two critics the right to judge our cinema? There're so many brilliant accomplished films from every part of India in the past and present. They are comparable with any cinema from any part of the world.

"Ray's 'Apu Trilogy' is brilliant. But from it, only 'Pather Panchali' qualifies among his best. Beyond that, Ray's best works were 'Jalasahgar' and 'Charulata'. How come the American critics turned a blind eye to those? Guru Dutt's 'Pyaasa' is certainly a classic. But are 'Kaagaz Ke Phool' or 'Sahib Bibi Aur Ghulam' any inferior? We can debate that till kingdom come.

"But the most surprising selection is 'Nayakan'. Mani Ratnam is undoubtedly one of the finest craftsmen. But 'Nayakan' was his tribute to Francis Coppola's 'The Godfather'. He has made far more meritorious and original films like 'Bombay' and 'Kannatil Muttamital'...And why leave out Mehboob Khan's 'Mother India' or for that matter Sanjay Leela Bhansali's 'Black'?"

Filmmaker Kalpana Lajmi whose uncle Guru Dutt is the only Hindi filmmaker in the Time list glows with pride: "Though Guru Dutt's genius needs no further endorsement, it feels great to see his work being recognised over and over again in prestigious evaluations even 41 years after his death.

But she says: "'Pyaasa' is certainly a classic, though I think some of his other works are equally important."

Mani Ratnam, who's the only living Indian filmmaker to feature in the list, is sceptical about the honour: "I've long forgotten 'Nayakan' and moved on.

"There're so many films and filmmakers who deserve to be counted among the best. This is just the arbitrary decision of a couple of people, nothing more. I'm certainly not dancing on rooftops with pride and joy."

The omissions from Indian cinema are unbearable to actress and talk show host Simi Garewal: "Nothing by Raj Kapoor or Ritwick Ghatak? What a shame! And what about Sanjay Leela Bhansali's 'Devdas' and 'Black'? These are decidedly among the most accomplished cinematic achievements from any part of the world."

An actress who has worked with the best filmmaking talent in India finds the Time list "myopic and incomprehensive...No Ritwick Ghatak, no Bimal Roy, no Shyam Benegal, no Adoor Gopalakrishnan. The films selected from India seem clichéd and predictable, nothing we don't already know...nothing to get excited about."

Yet the fact that one of America's best-known magazines has decided to draw up a list of what they consider to be the best films over the years has made movie buffs sit up and take notice. One can certainly expect a jump in the rentals and sales of the films in the list.