Producer: Ronnie Screwvala, Vishal Bharadwaj
Director: Vishal Bharadwaj
Cast: Pankaj Kapoor, Shreya Sharma
Music: Vishal Bharadwaj

'The Blue Umbrella' is a novel by Ruskin Bond and this is a namesake film by Vishal Bharadwaj. The film is an adaptation of the novel that reveals desire and the conquest to achieve it. The theme is contemporary though it is a metaphorical tale.

It is the story of Biniya (Shreya Sharma), an eleven-year-old girl living in the mountain village in North India. One day she discovers something wonderful and spellbinding. It is a vibrant blue umbrella, the one of kind that she has never seen before. In her village lives Nandkishore Khatri (Pankaj Kapoor) and the charm of the umbrella catches his eyes also. He runs a small tea stall and is popular for his miserly ways. He is fond of pickles and also does cheat kids off their possessions. He is so much in awe of the umbrella that he can go to any length to achieve it. But his efforts go futile. He has lost all hope of acquiring it and in desperation has decided to let it go.

But not only he, the entire village is under the spell of this umbrella. This has disrupted the peace and harmony of the village. The umbrella gives Biniya enviable power over the small town with everyone believing that it is something mythical. To her dismay one day the umbrella gets lost. Though the villagers sympathize with her for the loss they are sure that Biniya has lost it due to carelessness. Biniya decides to go on her own and fight for it herself.

This leads to the coming together of Biniya and Nandkishore as they set for a journey on the path of discovery. The path to Blue Umbrella is filled with their bittersweet memories and wisdom.