It currently serves as a museum and a tourist attraction.It is an autonomous organization within the Government of India's Ministry of Culture.
The memorial was designed by Sir William Emerson using Indo-Saracenic style, incorporating Mughal elements in the structure. Lord Redesdale and Sir David Prain designed the gardens. The foundation stone of the memorial was laid down in the year 1906.
The monument was intended to serve as a tribute to the success of the British Empire in India.