Step 1: This question relates to Satyajit Ray's essay, "What is Wrong with Indian Films?".
Step 2: The essay discusses the history, state, and potential of Indian filmmaking.
Step 3: Ray's essay acknowledges that 'Cinema' as a medium is relatively new but has undergone rapid and significant technological and artistic development globally. His critique is that Indian cinema had not kept pace with this development, but the statement itself refers to the vast progress of the cinematic art form in general.