New Delhi, July 7 -- Michael Douglas says he has no plans to return to acting any time soon, marking a significant pause in a storied career that has spanned nearly six decades.

Speaking at a press conference at the Karlovy Vary International Film Festival, in Czech Republic, the Oscar-winning star candidly explained his decision to step away.

"I realized I had to stop," Douglas told reporters. "I had been working pretty hard for almost 60 years, and I did not want to be one of those people who dropped dead on the set."

He added that while he's not officially retired, he's embracing a slower pace.

"I'm not retired, because if something special came up, I'd go back," he clarified. "But otherwise, I'm quite happy. (I) just like to watch...