Wiki:
The Nehru jacket is an article of clothing based on the Indian sherwani. It became popular in the West in the 1960s. It is modelled after the sherwanis preferred by the first Prime Minister of India, Jawaharlal Nehru. While a sherwani typically reaches to the knees, the Nehru jacket is cut off at around hip height or upper leg, like a standard Western suit jacket.
I remember wearing one to my cousin's wedding when I was 8 years old in 1970. Ah memories.