Lord of Light
is probably too complex to allow it to be adapted into a film without serious butchering of its themes. For example, look what happened to Dune
. In fact, several of the themes (such as the wheel of life and technological reincarnation) and Zelazny's use of "anachronistic myth" ended up in the new Battlestar Galactica
. That might be the nearest you'd get without causing rioting in India for apparently insulting the Hindu and Buddhist religions.