Addressing the 9th Convocation of Tata Football Academy at TFA premises here, Nerurkar said the time has come for "all of us" to think as to what we can do to improve and promote football.
Referring to the football scenario in Europe, the Tata Steel MD said the standard of the game in Europe leapt to great height after they introduced a premier league.
"We will have to think about such type of league, if we want the game to improve," he said while hinting its plan to launch a team for the I-league.
"We are in discussion with All India Football Federation in this connection," he said.
Appreciating the performance of TFA, Nerurkar said it was doing a great job as far as helping mainstream football grow in India ever since it was set up in 1987.
About TFA's agreement with UK-based Professional club Shefield United Football Club in August 2010, Nerurkar said the move has lifted the performance of the TFA and also provided opportunity for foreign exposure.
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Later, talking to newsmen, Nerurkar said Tata Steel has plans to have a football team for the I-league.
"We have to do background work to achieve the goal," he said.
Earlier, Nerurkar distributed certificates to 18 TFA cadets, who have passed out after completing four-year stint in the academy.
Among others, former directors of TFA-cum-Olympians Chunni Goswami, P K Banerjee, Former Indian captain Shyam Thapa, former TFA coach Ranjan Choudhury were present.