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Our Bureau

New Delhi , Dec. 7

Sir Nicholas Stern, head of the UK Government economic service, is to become the first holder of the IG Patel Chair at the London School of Economics and Political Science (LSE).

The appointment was announced at LSE's third Asia Forum being held here on Thursday. The new Chair is named after Dr I.G. Patel, the former Governor of the Reserve Bank of India who was the ninth director of LSE between 1984 and 1990.

Dr Patel died in July 2005 and the Forum is dedicated to him this year.

The RBI and State Bank of India are supporting the IG Patel Chair.

The IG Patel Chair in Economics and Government will lead the new LSE India observatory within LSE's Asia Research Centre. The India Observatory is being set up to intensify research on the Indian economy.

Sir Nicholas Stern will re-join LSE on June 1, 2007 and also head the new India observatory.

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