Press Release, Nov 6, 2009
Together with Tekes, Finpro has been mapping potential partners providing engineering education in India for Finnish universities and businesses. At the same time, Finpro has been assessing the suitability of the Indian National Institutes of Technology (NITs) for cooperation in research and product development. The assessment has been carried out by Finpro’s World Bank finance experts in Washington, USA, and in New Delhi, India.
The project aims to develop cooperation between Finnish and Indian businesses and universities. Through the World Bank project, Finnish businesses could acquire skilled labor, start industry-specific courses and increase understanding about the Indian market in view of future product development projects.
University cooperation could involve, for example, research projects, research centers, student exchange and joint courses. In addition, universities and businesses could cooperate in product development as well as in developing trainee programs, establishing research centers and organizing joint conferences.
“In the near future, up to 30% of the world’s engineers will be located in India, and 30–40% of all technological innovations are developed by engineers. Based on these figures alone, India is quickly becoming one of the world’s innovation hubs. The level of engineering education and research in India is currently inconsistent, and there is little cooperation between universities and businesses. Engineering know-how is needed particularly in the IT, civil engineering, electrical power and water industries,” said Annamari Paimela-Wheler from Finpro’s Project Advisory Services.
World Bank supports development of engineering know-how in India
The rapid growth of the Indian economy has created a high demand for engineers. Today, about 200,000 engineers graduate each year from India’s 2,400 technical education institutes. By 2015, the number of new students is expected to be 500,000.
The World Bank is financing the Indian government’s Technical/Engineering Education Quality Improvement Project with USD 500 million. The project aims to develop engineering know-how in India, as well as international cooperation between universities and businesses. Out of the 2,400 engineering education institutes in India, the World Bank has selected the best 200 for the project.
Out of these 200 institutes, Finpro has selected 20 partners most suitable for Finnish businesses and universities. The biggest recipients of World Bank funding, NITs are turning into regional centers of excellence.
“Indian engineering universities want to develop their international cooperation. They consider Finland as one model for cooperation between businesses and universities. For example, Indians are very interested in the financing models of our universities. However, we should bear in mind that the Americans, Brits and Germans are also extremely interested in cooperating with the Indians, so there is plenty of competition,” said Paimela-Wheler.
Funding sought for launching cooperation
In January 2010, the World Bank will distribute USD 2–2.5 million to NITs for launching international cooperation projects. The Finns aim to sign a framework agreement with these NITs. The framework agreement could then function as a platform for all cooperation. The objective is to have the agreement signed at the Indian Finnish Technology Summit and Platform event held in New Delhi in November 2009.
“For example, people in the USA are very interested in the cooperation, because businesses need cultural competence and people recognize India’s potential as a major player in the world economy. Finns are mostly interested in a 2+2 model in which cooperation involves a local business and a university in both countries. The requirement is that both parties bring their expertise and funding to the joint project,” said Paimela-Wheler on the cooperation opportunities.
Until now, only a few major Finnish companies such as Nokia, Kone and Metso have founded their own research centers in India. As for Finnish universities, the Tampere University of Technology and the University of Tampere have already signed a cooperation agreement with the National Institute of Technology, Warangal.
For more information, please contact:
Annamari Paimela-Wheler, Senior Consultant, Finpro PAS Washington, tel. +1 202 298 5877, annamari.paimela-wheler(a)finpro.fi
Maija Jokelainen, Junior Consultant, Finpro PAS Washington, tel. +1 202 298 5877, maija.jokelainen(a)finpro.fi
Kari Komulainen, Technology Director, Tekes, tel. +358 10 605 5842, kari.komulainen(a)tekes.fi
Finpro is a network of experts, operating globally to promote the internationalization of Finnish companies. Finpro’s staff, consisting of over 300 professionals, work in 60 offices in more than 40 different countries around the world. Finpro offers its expertise and services throughout the various stages of a company’s internationalization process. Expertise in various fields of business, market knowledge, effective international and local networks, and the ability to identify and understand future business opportunities are the added value Finpro offers to Finnish industry and businesses to maintain and develop their competitiveness.