Suraj, 19, who is studying Philosophy (Hons) at Delhi's St Stephen's College, is the only male actor who is nominated in the category.
He is nominated along with British actresses Andrea Riseborough and Juno Temple, Swedish actress Alicia Vikander and Elizabeth Olsen from the US, said a statement on the official website of BAFTA (British Academy of Film and Television Arts).
EE Rising Star honours a young actor or actress who has demonstrated exceptional talent and ambition and has begun to capture the imagination of the British public. It is the only award voted for by the public at the EE British Academy Film Awards in 2013.
Based on Canadian author Yann Martel's Man Booker Prize-winning novel of the same name, "Life of Pi" is about the journey of an Indian boy who survives a storm.