Actually, it's not EXACTLY 'Bollywood'. India has 25 languages. This clip is from Tamil language film industry, often referred to as 'Kollywood' because most of the studies are in locality called Kodambakkam. But it's not as widely used or accepted as the word Bollywood.
The man featured in this song is the tamil actor Kamal Hasan. He is a really talented tamil actor from South India. He can do serious and comedy roles with absolute ease. Some of his famous Tamil films are 'Nayagan', 'Kuruthi Punal', "Devar Magan' and 'Pesum Padam'. He's considered the Robert DeNiro of South India.