Well, kind of. It's more of a cross between "Hail!" and "Hallelujah!"
I absolutely love this song — which is fun because the only part I understand is the Spanish lyrics. I also loved the movie "Slumdog Millionaire," which is one of my favorite movies this year.
Here's a great video with footage of the movie and a great Bollywood dance scene. [Update: the video is no longer avilable, but here's a dance demonstration by a professional Bollywood choreographer, plus a whole lot of people having some great fun.]
And if you are curious like I was, here's a link to Inkspill, a blog with a translation of the song "Jai Ho."
And to Ellen Degeneres, whose television crew and audience also couldn't resist.
Everyone's getting in on the act, including Mr. Bean, but you'll have to see them all yourself.
Enjoy the song, see the movie and purchase the soundtrack!