The correct answer is option 3, President of India.

Article 263 of the Constitution of India empowers the President to establish an Inter State Council. This council is established to discuss and resolve disputes and other issues between the states of India. The President is the head of the Indian state and is responsible for the functioning of the central government. As such, the President holds the authority to establish this council, which serves as a platform for communication and collaboration between the central government and the state governments.

Option 1, Parliament, is incorrect because although the Parliament plays a crucial role in the legislative process and decision-making, it is not specifically empowered to establish the Inter State Council under Article 263.

Option 2, Council of Ministers, is incorrect because while the Council of Ministers assists the President in the exercise of executive powers, it does not have the direct authority to establish the Inter State Council.

Option 4, Chief Justice of India, is also incorrect as Article 263 of the Indian Constitution does not provide any powers or authority for the Chief Justice of India to establish the Inter State Council.

In conclusion, the President of India is specifically empowered to establish the Inter State Council under Article 263 of the Constitution of India.