"Principal photography is expected to start in February 2016 in France, and the film will also shoot extensively in March/April 2016 on skiing slopes in the Himalayas in India," Reliance Entertainment said in a statement.
The announcement coincides with the start of the three-day India visit of French President Francois Hollande.
NOmber One is written by Hazanavicius, among others, who will be directing it as well.
"nOmber One tells the story of a quest, and of the ascension of a uniquely talented young man, in a world of commerce and mercantile deals," the statement said.
Reliance Entertainment, which is engaged in creation and distribution of content across films, television, digital and gaming platforms, has earlier teamed up with film producer and director Steven Spielberg for formation of DreamWorks Studios.
In December 2015, Reliance Entertainment, Steven Spielberg, DreamWorks Studios, Participant Media and Entertainment One have formed Amblin Partners, a new film, television and digital content creation company.
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