London (PTI): Oxford University is tapping its Indian alumni like Deputy Chairman of Planning Commission Montek Singh Ahluwalia for its biggest ever fund-raising drive to help expand and compete with top American universities.

The campaign aims to raise 1.25 billion pounds, and begins at a high profile international event here on Wednesday.

The launch event at the British Academy features the university's chancellor Lord Chris Patten, and vice-chancellor John Hood.

Oxonians from various fields and countries have been roped in to raise funds that will be used to meet rising costs and steep competition from American universities.

Apart from building a new campus and other infrastructure, funds raised by the campaign will fund nearly 200 new fellowships.

It will also fund a major recruitment to attract the best and brightest academics to the university.

Bolton and Quinn, the company organising the campaign, wrote in invitations to journalists for the launch event: "This will be the largest campaign ever to be initiated in Europe and aims to put Oxford on a level playing field with universities in America".