After more than a year of preparation, a memorandum of understanding to set up an India Business Centre is due to be inked in London between the University of Oxford and the Confederation of Indian Industry (CII).
The centre will be located in India and in Oxford. The CII will collaborate with the Said Business School, which is part of University of Oxford, to set up the centre that will take the long-standing relations between India and the university to a new high.
The memorandum will be signed by John Hood, vice-chancellor of the university, and Sunil Bharti Mittal, CII president.
The centre, which will be the university's first business research centre outside Britain, will focus on issues related to India's rapidly expanding economy, such as infrastructure, education, social entrepreneurship and business taxation.
According to Colin Mayer, dean of the Said Business School, the university will initially invest 10 million pounds in the centre. The decision to set up the centre was announced by Mayer in Mumbai in October 2006.
He said: "This is the first centre outside UK and will be a huge commitment as far as Oxford is concerned. There will be a study centre in Oxford that will lead the research works in India.
"For outsiders, the growth of India is a lesson to learn and for the country, there are a lot of challenges. We are bringing in international attention to the success of India and trying to involve policy makers and corporate India to address issues related to infrastructure and education in the country".
Established in 1996, the Said Business School is one of Europe's newest and fastest growing institutes. An integral part of Oxford University, the school embodies the academic rigour and forward thinking that has made Oxford a world leader in education.
The school has an established reputation for research in a wide range of areas, including finance and accounting, organisational analysis, international management, strategy and operations management.
The school is dedicated to developing a new generation of business leaders and entrepreneurs and conducting research not only into the nature of business, but the connections between business and the wider world.