The Prime Ministers of India Dr. Manmohan Singh with his New Zealand counterpart on 28th June 2011 declared that an Education Initiative will be taken, which will be a jointly-funded programme for higher education. This will enhance bilateral cooperation in education, research, and skills development.
The total funding for the initiative is expected to be $1 million per year with both India and New Zealand contributing equally. The University Grants Commission of India will provide the funds for India.
The Education Council will further strengthen the mutual ties and will encourage in building knowledge and awareness through scholarships and internships in each other's business schools and industrial enterprises.