A rather basic and typical costume drama, detailing the life of Queen Elizabeth (and the start of England's Golden Age). The only way that it sets itself apart from countless similar films is that it feels just a tad lighter in tone (Vincent Cassel in particular stands out), but it's not enough to make it something special.
The cinematography is decent, though it alternates beautiful moments with downright kitsch. Performances aren't that great and feel over-the-top, the soundtrack is cheesy and the drama didn't really interest me that much. That's usually my problem with this type of film though, so your mileage may vary.
It's obvious that director Shikhar Kanpur tried his best to add something extra to Elizabeth, but it never quite happens. At least it's nice to see someone try, it makes that it isn't a complete bore, even so the second half starts to drag and never really recovers with a rather poor finale. Not terrible, but hardly noteworthy.