London: The London School of Economics and Political Science (LSE) has launched a new student fund in memory of one of its leading academics, Lord Meghnad Desai, who passed away aged 84 in July last year.
The Lord Desai Student Support Fund was launched at the first memorial lecture in honour of the celebrated British Indian economist organised by LSE's Department of Economics in London on Wednesday evening.
About The Fund
The fund is designed to provide student support and create opportunities shaped by Desai's commitment to intellectual openness, global understanding and rigorous debate.
Professor Larry Kramer's Statement
"Lord Desai's intellectual independence made him more than just another teacher whose classes students liked and learned from. He became a catalyst for transformation, someone who inspired countless students to think differently, argue boldly, and embrace complexity," said Professor Larry Kramer, President and Vice Chancellor of LSE.
"In recognition of this powerful legacy, we are establishing the Lord Desai Student Support Fund: a fund dedicated to empowering students to become the next wave of changemakers. The fund will help them pursue ideas and innovations that have the potential to reshape our world, just as he did.
"Created in honour of Lord Desai's lifelong belief in the power of ideas and of dissent, the fund will champion the next generation of bold thinkers: students who can and are prepared to question assumptions, cross boundaries, and seek knowledge without fear of where it leads them. It will ensure that his influence lives on not only in memory, but in action - supporting those who dare to reimagine the world," he said.
Desai joined LSE as a lecturer in 1965 and was appointed Professor of Economics in 1983.â?¯ He went on to serve as Convenor of the Economics Department, founded the Centre for the Study of Global Governance and led the Development Studies Institute. After his retirement in 2003, he was appointed Emeritus Professor and Honorary Fellow.
Describing him "generous, insightful, and unforgettable", the university paid tribute to the warmth, wit, and humanity Desai brought to LSE's academic life and reflected on how his tutoring had left an indelible impact on generations of students and faculty over the years.
"For decades, Meghnad contributed to the intellectual fabric of LSE in ways that defy simple categorisation: economist, theorist, public intellectual, and above all a mentor.
His readiness to debate any idea, however unconventional, made him invaluable to generations of students. A student fund in his honour is an entirely fitting way to continue that legacy," said Professor Charles Goodhart, Emeritus Professor of Banking and Finance with the Financial Markets Group at LSE, who has supported the new fund.
The Lord Desai memorial lecture, entitled 'Power and profit: stresses and futures of market economies', brought together prominent thinkers to debate the future of market systems.
Former deputy chairman of the Planning Commission Montek Singh Ahluwalia as well as UK academics Francesco Caselli, Professor Sir David Hendry, Professor Stephen Nickell and Professor Mary Kaldor explored the notion of "radical and deep thinking" at a time of global challenges, inspired by the late economist's legacy.
Created Baron Desai of St. Clement Danes in 1991, he brought his economic insight to the House of Lords, where he took on roles ranging from opposition whip to economic spokesperson.
He also played a pivotal role in cultural diplomacy, helping install the Mahatma Gandhi memorial statue at Parliament Square in 2015, and was recognised as an energetic champion of closer India-UK ties. He received the Padma Bhushan in 2008 for his contributions to literature and education.
"He always remained connected to India and Indian culture. He also played a role in deepening India-UK ties," Prime Minister Narendra Modi said in his tribute to Desai when he passed away on July 29, 2025.
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