The announcement was made by Oxford University Chancellor Chris Patten in the capital on Friday. Patten while speaking at the Higher Education summit, organized by FICCI, said: "Our business school is aiming to establish an Indian business centre as a focus for the study of business issues in your country. We are hoping to work closely so that the entire research we promote is focused on actual Indian priorities and needs."

Patten also emphasized on collaborative education and research programs between the two countries. He said education and research are the agenda of both the countries. "Make no mistake, to work more closely with you is a real aspiration in Britain whatever the university, whatever the business, whichever political party is in power. We are your friends and we want to be your partners," Patten said.

The aim on the part of UK-India initiative, he said, is to spend over £23 million over five years, establish stronger research links between centres of excellence, more doctorate and post-doctorate collaboration through split PhDs and research fellowships and strengthening of cooperation in the vocational teaching of professional and technical skills, and of links between schools for curriculum projects.

The union HRD Minister Mr. Arjun Singh had earlier appealed to the chancellor for setting up a centre in India. However, Mr. Singh does not favour the "fly-by night operators" to set up their shops in India.