As part of the effort, the filmmakers pledged to make inspiring content about "valour, values and the culture" of India to celebrate 75 years of the country's independence.
"It is our stories that make us who we are, and every corner of our country has an empowering tale to tell," read a joint statement, which was shared by Johar, Kapoor and Rai on their official Twitter and Instagram handles.
The filmmakers said they came together to celebrate the spirit of the freedom movement.
"As we embark on this new journey, it witnesses a fresh beginning of the grand era of story telling to cherish the soul of the idea called 'India'.
"Drawing inspiration from our Honourable Prime Minister from whom we also seek sustained guidance, we the members of the film fraternity are privileged to announce our plan to celebrate the 75th year of Independence," it added.
The filmmakers said they will be soon joined by "more creative contributors" for the initiative.
In her tweet, Kapoor thanked PM Modi for including her in his vision for the country.
"Excited to be in such august company, recreating & curating stories that made our great nation stand tall with hope & integrity! JAI HIND," she wrote.
Rai tweeted, "We are humbled & gratified to make our little contributions with stories that exemplify d integrity & pride of our great nation whilst we celebrate 75 years of India's independence.Jai Hind."
The joint statement was also shared by the official Twitter handle of Dinesh Vijan's Maddock Films.