Only two Indians have ever won an Oscar - costume designer Bhanu Athaiya for Gandhi (1982) and renowned filmmaker Satyajit Ray who received a lifetime achievement award in 1992.

However, with three Academy Award nominations this year for Slumdog Millionaire - one for overall score and for two songs - the Chennai-based composer looks likely to be the third, the report said.

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He is also up for the Best Music award at Sunday night's Baftas. "We've been waiting for this for 80 years," said Rahman.

"I believe that whatever comes at a particular time is a blessing from God," he said.

While Rahman first came to the attention of Western audiences with his film music for Elizabeth: The Golden Age (2007) and stage shows Bombay Dreams and The Lord of the Rings, his already stellar profile will go into overdrive should be win the Oscar on February 22.