Mukesh Ambani, chief of the Reliance group has been nominated as chairman of the Geneva-based Foundation for the International Federation of Red Cross and Red Crescent Societies.

The move, along with the appointment of several other leading corporate figures onto the Foundation board, represents a milestone in the International Federation's efforts to build more strategic alliances between the humanitarian and business worlds.

Forty-three year old Ambani is chairman and managing director of the Reliance Group, India's largest private enterprise with an annual turnover of $15 billion.

Reliance covers a range of business activities, including petrochemicals, gas, textiles, telecoms and insurance.

The Foundation was created to mobilise revenues for the global humanitarian activities of the Red Cross and Red Crescent.

"The Foundation aims to raise an initial $25 mn for Red Cross and Red Crescent community health programmes, which make a difference to millions of lives every year. This is the focus for the next three years," Federation president Juan Manuel Suarezdel Toro said in a statement.

"The involvement of leading corporate figures is crucial to the success of our objective," he said.

Ambani, who was impressed with the work of the Red Cross following the earthquake in his home state of Gujarat in 2001, told members of the International Federation's Governing Board: "This board is about building a partnership between the world's biggest corporate enterprises and the world's biggest humanitarian organisation. It is corporate citizenship in practice. I am proud to be the latest recruit to the worldwide family of Red Cross and Red Crescent volunteers."