Rang De Basanti out of Oscar race

India's official entry to the Oscars `Rang De Basanti' has lost out in the race for Best Foreign Film in the shortlist ahead of nominations for the category.

Directed by Rakyesh Omprakash Mehra, the critically acclaimed and commercially successful film has performances by Aamir Khan, Atul Kulkarni and Soha Ali Khan among others.

However, Indians still have something to cheer about as Canada's official entry `Water', directed by Indian-born Deepa Mehta and starring Bollywood hearththrob John Abraham and model Lisa Ray, has made it to the shortlist of nine films.