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Because of the common vision of President S. Radhakrishnan-the remarkable philosopher-statesman-and Prime Minister Pandit Jawaharlal Nehru, the Indian Institute of Advanced Study Society was registered on 6 October 1964 under the Registration of Societies Act of 1860. The primary objective of the Institute is 'to provide an environmentsuitable for academic research' in the humanities, and the social and natural sciences. In his inaugural address, Professor Radhakrishnan emphasized that a crucial question for the Institute to engage with was 'whether what has come down to us as truth is in fact true or requires some kind of modification'. 'We should not', he said, 'be prisoners of the status quo'. 

A host of luminaries were closely associated with the Institute at its inception. The President of the Society was Dr. Zakir Husain, Vice-President of India, and Shri M.C. Chagla, Education Minister, was its Vice-President. Professor Niharranjan Ray was chosen as its first Director. By bringing together 'Fellows in Residence', the Institute had begun to promote an 'inter-change of ideas, methodologies and techniques between scholars belonging to different fields of knowledge'.

At that time, the academics at the Institute consisted of Professors, Senior Research Fellows, Junior ResearchFellows, Guest Fellows and Scholars. The review committee recommended that this hierarchy of academics be replaced by a single category of Fellows. Among the special areas of interest identified by it were: social sciences, historical studies, philosophy and letters, and pure mathematics. The Institute had, by October 1975, come to be internationally recognized as a centre of 'high creativity and excellence' that had contributed to the 'Indian community's discovery of its own identity'.

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