Hollywood actor Jackie Chan will also be honoured at the one-day conference on 'celebrating Diversity in the European Union' at Lord's Cricket Ground here.
"Aishwarya Rai is a symbol of what Asian women can achieve and a real international symbol for diversity," Keith Vaz MP, and co-chair of the conference said.
Vaz said the conference will help EU to "refocus our goals and inspire the minds of leading individuals across Europe."
"We are in dire need of a fresh approach to integrationand of finding inspiration in a diverse environment which recognizes and nurtures the talents of all people within our great European community, regardless of religion, culture or ethnicity," he said.
The conference will feature a special interview with Prime Minister Tony Blair.