• The university should be established through an inter-governmental treaty among the participating countries.

• It should have separate schools of Buddhist studies, philosophy and comparative regions; historical studies; international relations and peace studies; business management and development studies; languages and literature; and climate and environmental studies.

The mentor group had earlier constituted a broad-based advisory council of eminent scholars and though their suggestions were often at variance with each other, it helped in appreciating alternative options and approaches.

In terms of the governance structure it was felt that the university should have an international board of trustees and headed by a rector.

It was also hoped that the final two meetings of the Mentor Group could be held in China and in India.

While the Nalanda University project has made significant progress, there are some subsisting issues:

• First, what should be the framework of the inter-governmental treaty? While the treaty would provide for partnership the mutual obligations of participating countries and their role need clearer delineation. Harmonisation of treaty obligations within the framework of subsisting Indian rules and regulations with the role of all stakeholders, namely the state and central government, the international partners, and multilateral agencies, needs careful consideration.

• Second, innovative financing models would be necessary. While substantial financing from the Centre and the state government is inevitable, the prospect of co-financing from bilateral donors and multilateral agencies like the Asian Development Bank needs to be explored.

... contd.