The problem with gifting a serious Bollywood fan is that "Bollywood fan" covers everyone from the person who watches every Friday release twice to the one who has formed opinions on each decade of a golden-era composer. Those are not the same person. In most Indian households, the film obsessive is also the one with the strongest opinions in any room, which means a lazy gift does not just fall flat, it makes a statement about how well you actually know them.
For the genuinely committed fan, the gifts that work are the ones that treat the obsession seriously. A quality vinyl pressing of a classic soundtrack signals taste, not just recognition of the fandom. Books built around film criticism and production history land better than coffee table collections because they offer something new, even to someone who has watched everything. If they are music-first rather than cinema-first, a dedicated retro audio device built around classic Hindi film songs is the rare hardware gift a non-gadget person will actually keep out on the shelf.
The classic mistake is the Bollywood-branded lifestyle product. The tote bag with a filmy quote, the cushion cover with a vintage poster print, the "Filmy Feels" mug set. These say "I know you like Bollywood" without saying anything specific, which a true fan reads as "I did not think about this." If the item could be gifted to any of a hundred people, it should not be gifted to this one.