Why was Bollywood named Bollywood?

Bollywood was named by combining Bombay (the former name of Mumbai, where the Indian film industry is based) and Hollywood (the iconic center of the American film industry). The term "Bollywood" was coined in the 1970s as a play on Words, highlighting the importance and influence of the Indian film industry, much like Hollywood in the United States. Bollywood has since become synonymous with the Hindi-language film industry in India, known for its colorful musicals and dramatic storytelling.