Credit for the term has been claimed by several different people, including the lyricist, filmmaker and scholar Amit Khanna, There was clearly a huge market for talkies and musicals; Bollywood and all the regional film industries quickly switched to sound filming.
The 1930s and 1940s were tumultuous times: India was buffeted by the Great Depression, World War II, the Indian independence movement, and the violence of the Partition.
Some of the most critically acclaimed Hindi films of all time were produced during this period.
Examples include Pyaasa (1957) and Kaagaz Ke Phool (1959) directed by Guru Dutt and written by Abrar Alvi, Awaara (1951) and Shree 420 (1955) directed by Raj Kapoor and written by Khwaja Ahmad Abbas, and Aan (1952) directed by Mehboob Khan and starring Dilip Kumar.
It was this "chance juxtaposition of two pairs of rhyming syllables," Holly and Tolly, that led to the portmanteau name "Tollywood" being coined.