The University of Otago has signed a memorandum of understanding with a Bombay business institute to work together on teaching and research.
Prime Minister John Key announced the agreement in Delhi, where he led a delegation promoting links between New Zealand and India.
Vice-chancellor Prof Harlene Hayne was meant to be at the signing yesterday, but returned to Dunedin from Townsville after the New Zealand delegation's Royal New Zealand Air Force plane broke down.
''The long plane delay meant it was more feasible for her to return to Dunedin,'' the university said in an emailed comment.
The institute is BSE Institute Ltd, a subsidiary of the Bombay Stock Exchange.
Otago University international office director Simon Chu said the agreement was an opportunity to collaborate on postgraduate business studies.
It would encourage student mobility between the countries, and it would involve sharing confidential research data.
The first students could arrive at Otago as early as next year.
BSE Institute chief executive Ambarish Datta said New Zealand students would be able to learn about Indian financial markets.
''Education in New Zealand has undergone a transformation in the past two decades, including the areas of governance, curriculum, assessment, qualifications, and teaching and learning.
''As a result, a range of new ideas and methods have been adopted, based on evidence and research,'' Mr Datta said.
