Bollywood and mainstream acceptance. Movie

This is something that has been puzzling me for a while, so I wanted to open it up for discussion here.

Why hasn't a Bollywood film ever broken through into the mainstream critical conscious? Why do there appear to be no Bollywood films that are either critically adored, or popular outside of India?

Far smaller nations, with far less significant film industries have produced films that have become part of the cultural conscious in "the west". I can go down to the "World Cinema" section in the nearest DVD shop to me, and see 50 Korean movies, but absolutely nothing from Indian cinema.

If you take a look at any "Top 100 Foreign Films Lists" or similar, you will maybe see some Satyajit Ray films there, but nothing else from India. That really strikes me as odd, considering how prolific the Bollywood industry is.

I've talked about this with friends and colleagues, but is this something anybody else has noticed, and / or has an explanation for?