The announcement programme took place at the 'Innovation in Education' round table in New Delhi which was organized by Scottish Development International, in partnership with India's Planning Commission and the Federation of India Chambers of Commerce and Industry.
Senior representatives of four Scottish Education Institutes, Hyslop was also present at the gathering which led to the discussion on the Importance of Innovation in Education for India to achieve its economic goals with the critical need to increase the employability levels of students.
"With the world's fourth largest economy and second highest growing economy, India is an important trade and investment partner for Scotland with 13 Indian companies investing up-to £700 million in the past five years. In turn, India is looking to secure its future growth through innovation and Scotland offers a wealth of technological innovation expertise and cutting edge research and development which are helping India achieve its goals", said Hyslop.
In particular, our expertise in education, financial and business services, energy and healthcare present significant opportunities for Scottish Business Trading in India. Increasing business links in these forms a key component of my visit, he added.
However, the significant growth in asset management in India for about 47% between 2003-2009 and the success of a pilot programme in India earlier this year has promoted the launch of this global qualification in the Indian market; Dundee University has been chosen to run a UK wide work placement programme as part of the UK-India Education and Research Initiative, which will help UK graduates enter the Indian workplace and experience living and working in India, in order to gain more strong understanding of one of the world's fastest emerging economies.
Pawan Agarwal, higher education and culture adviser from the Planning Commission of India, who jointly ran the event with Scottish Development International and FICCI, said "the Indian Prime Minister has declared this as the decade of innovation and the key to promoting innovation is cross-learning from each-others experiences. We at the Planning Commission are engaged in strategic thinking about education and fostering innovation by cross-learning and as a result, partnership with Scotland is at the heart of our work."
However, the partnership of Scotland and India are quite strong when it comes to the Education partnership, also hoping the best for the upcoming projects.