Bhatt was earlier serving as the vice president of the guild, an autonomous non-profit premier film trade body.
"It is a big honour and a big responsibility to have become the president of such a prestigious guild. There are a lot of expectations and a lot of work needs to be done for the film fraternity," Bhatt told IANS.
"We need to take the industry to the level it deserves to be, especially because we are celebrating 100 years (of Indian cinema)," he added.
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