The 54-year-old American film director is reportedly set to embark on a new project with the 37-year-old actress, who is known for her comedy series 'The Mindy Project', and Emma Thompson, according to Variety Online.
A source close to the production has revealed Feig loved the brunette beauty's script and is desperate to join forces with her and the 57-year-old 'Saving Mr. Banks' star.
Although it is unknown whether the production will be a film adaptation of the American programme Mindy has starred in since it first aired in 2012, or if it will take on an entirely different plot, the film has been described as an amalgamation of 'The Devil Wears Prada' and 'Broadcast News'.
It has been reported Fox 2000 has backed the movie after working on 'The Heat' and 'Spy' with the filmmaker, whilst Scott Rudin is set to produce the film alongside Kaling and Howard Klein.
Although a final deal with Feig has yet to be signed off and confirmed yet, it is believed if the deal goes ahead he will co-produce the production with fellow film producer Jessie Henderson, who Feig worked on the 2015 comedy crime film starring Jason Statham, Jude Law and Melissa McCarthy.
Meanwhile, Feig has insisted ''funny women can make money''.
Speaking previously, the mastermind behind 'Bridesmaids' and the all-female cast in 'Ghostbusters' said: '''Bridesmaids' showed people that movies starring a lot of women, funny women can make money. I think it's easy for a while to go, you know, 'Maybe it was just a fluke'. It throws me that they're so slow on the uptake.
''Again, it's been proven as 'Pitch Perfect 2' has just made a bazillion dollars. So I just hope that we can end the debate and just have more projects.''
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