Are Indian Movies(Bollywood) not recognized internationally?

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I sincerely feel that Bollywood movies are not recognised at all in international market.And Indian talent is nowhere made use of.Take for instance,the film "SlumDog Millionaire"..The music was done by Indian maestro Mr .A.R.Rahman..Being his ardent fan,I knew how his works would be.After watching the film,I felt that his music was good..but he has produced many wonderful tracks better than Slumdog Millionaire..If his above average work fetches so many awards,he must have been awarded Oscar had he entered Hollywood long time ago.. So is the case of many talented Indian actors and technicians..I still feel that only Hollywood gives them their recognition..What are your views about this?