The Enterprise was launched today by visiting Cambridge University Vice-Chancellor Professor Alison Richard.

Professor Arnoud De Meyer, director, Judge Business School, said the professorship has been set up with a fund of £3.2 million. The contribution is made by the Government of India to celebrate the centenary of Pandit Nehru's arrival at Cambridge's Trinity College, where he read for a degree in Natural Sciences.

The selection committee started its job of choosing the professor in October and a name will be announced in another two months time.

Besides involving more Indian students in research related to the present business environment, the centre will be responsible for promoting more students exchanges between business schools of the two countries.

“This will lead to a huge surge in intellectual exchanges between the two countries, as more student groups start visiting each other's schools abroad. We hope it will be instrumental in providing global education to Indian students as well as those from the UK,” Richard said.

The Vice-Chancellor is in India with 20 academicians and will be visiting various business schools in Hyderabad, Bangalore, Kolkata and Mumbai, to determine the kind of steps that would be needed to “internationalise” them.

“We are trying to further strengthen Britain's ties with India, as there is an enormous potential for economic partnership between the two,” she added.