The "Narayana" section of this chant is a mantra directed to the Hindu deity of that name. The "For Your Love" portion comes from the Yardbirds song.
The song started with a riff that Krishna Das came up with on the harmonium. He began chanting the mantra to Narayana, and put the first part of the song together. The "For Your Love" part came about in a soundcheck when he suddenly started singing the lyrics to the Yardbirds song, which he realized had the same chords. The sentiment of those lyrics also fit; in our interview with Krishna Das, he explained: "It applies because emotional love and unconditional love are both called love. Everybody wants love."
When Krishna Das was nominated for a Grammy Award in the category Best New Age Album for his 2012 release Live Ananda, he performed this song at the pre-show ceremony, marking the first time a kirtan was held as part of the Grammys.
David Nichtern, who wrote the Maria Muldaur hit "Midnight At The Oasis," produced the Heart as Wide as the World album (the title taken from a book by Sharon Salzberg), and played guitar on this track.