UK's senior-most Indian-origin minister, Priti Patel, who will be among the key Cabinet ministers at the event, described it as a real demonstration of the strong ties between the two countries.
"It will be a spectacular event and a wonderful opportunity to do more to celebrate the India-UK relationship," Patel, Britain's Secretary of State for International Development, told PTI.
The Palace had officially announced the date of the reception as February 27 in the monarch's engagements calendar earlier this week: "Her Majesty The Queen, The Duke of Edinburgh will give a reception to mark the launch of the UK India Year of Culture 2017."
The reception is expected to attract hundreds of guests from across various fields in the UK and India, including a senior Cabinet minister from the Indian side.
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"Throughout the year, we are going to see great works of art, great collaborations, all the cultural aspects coming together and a real demonstration of how strong our cultural ties are. It is going to be really exciting," Patel said.
The Conservative party MP, who has completed six months in office as minister in the Department for International Development (DfID), described her last few months in the post as a "humbling and rewarding" experience. She has been on several visits to war-torn regions and has just returned from Lebanon and Jordan, countries at the heart of the Syrian refugee crisis.
"The UK has been at the forefront of dealing with the crisis. We have committed 2.3 billion pounds since the start of this conflict. It is our biggest ever response to humanitarian crisis and makes us the second-largest bilateral humanitarian donor. We have helped to get over 250,000 Syrian children into schools and get them educated."
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"I think the British public should be incredibly proud of the fact that their generosity is saving lives and changing lives in difficult parts of the world, from north-east Nigeria, Ethiopia, Somalia to South Sudan."
When she was appointed as the DfID minister by British Prime Minister Theresa May's in July 2016 just weeks after the Brexit referendum, Patel had declared her goal as ensuring that British aid delivers the country's global vision outside the European Union (EU).
She explains: "The British public should be proud and feel confident in the way in which their development system and aid is spent. I am not afraid to stop things that I think don't work in our national interest or may not fit with our strategic priorities in Britain post-Brexit."
"I want to demonstrate that our aid is working in our national interest and global interest, certainly in terms of supporting our place in the world."
"We don't give traditional aid to India but India is still home to 290 million of the world's poorest people. So there is more that we can do with regard to supporting poverty reduction, jobs and livelihood and economic development in India," she said.