diff --git a/README.md b/README.md
index f529a954a1..98b167c4f0 100644
--- a/README.md
+++ b/README.md
@@ -26,7 +26,7 @@ source .venv/torchchat/bin/activate
 # get the code and dependencies
 git clone https://github.com/pytorch/torchchat.git
 cd torchchat
-pip install -r requirements.txt
+bash ./install_requirements.sh
 
 # ensure everything installed correctly
 python torchchat.py --help
diff --git a/install_requirements.sh b/install_requirements.sh
new file mode 100644
index 0000000000..17efed8be6
--- /dev/null
+++ b/install_requirements.sh
@@ -0,0 +1,55 @@
+#!/bin/bash
+# Copyright (c) Meta Platforms, Inc. and affiliates.
+# All rights reserved.
+#
+# This source code is licensed under the BSD-style license found in the
+# LICENSE file in the root directory of this source tree.
+
+# Install required python dependencies for developing
+# Dependencies are defined in .pyproject.toml
+if [[ -z $PYTHON_EXECUTABLE ]];
+then
+  if [[ -z $CONDA_DEFAULT_ENV ]] || [[ $CONDA_DEFAULT_ENV == "base" ]] || [[ ! -x "$(command -v python)" ]];
+  then
+    PYTHON_EXECUTABLE=python3
+  else
+    PYTHON_EXECUTABLE=python
+  fi
+fi
+
+if [[ "$PYTHON_EXECUTABLE" == "python" ]];
+then
+  PIP_EXECUTABLE=pip
+else
+  PIP_EXECUTABLE=pip3
+fi
+
+#
+# First install requirements in requirements.txt. Older torch may be
+# installed from the dependency of other models. It will be overridden by
+# newer version of torch nightly installed later in this script.
+#
+
+$PIP_EXECUTABLE install -r requirements.txt
+
+# Since torchchat often uses main-branch features of pytorch, only the nightly
+# pip versions will have the required features. The NIGHTLY_VERSION value should
+# agree with the third-party/pytorch pinned submodule commit.
+#
+# NOTE: If a newly-fetched version of the executorch repo changes the value of
+# NIGHTLY_VERSION, you should re-run this script to install the necessary
+# package versions.
+NIGHTLY_VERSION=dev20240415
+
+# The pip repository that hosts nightly torch packages.
+TORCH_NIGHTLY_URL="https://download.pytorch.org/whl/nightly/cpu"
+
+# pip packages needed by exir.
+REQUIREMENTS_TO_INSTALL=(
+  torch=="2.4.0.${NIGHTLY_VERSION}"
+)
+
+# Install the requirements. `--extra-index-url` tells pip to look for package
+# versions on the provided URL if they aren't available on the default URL.
+$PIP_EXECUTABLE install --extra-index-url "${TORCH_NIGHTLY_URL}" \
+    "${REQUIREMENTS_TO_INSTALL[@]}"