"India has best of students but is yet to create best of institutions keeping in mind its population size, on the other hand EU countries have best of varsities but not best of students.
"There is abundance of resources and funding opportunities available for the Indian students keen on studying there but the number of people who come forward to have an exposure of these opportunities is very disappointing," Onestini said here.
The EU Delegation to India in association with the Association of Indian Universities (AIU) is organising a series of workshops in India for higher educational institutions to discuss participation opportunities in EU-funded programmes.
While the first workshop was organised in the national capital, the remaining two will be in Pune and Chennai during this week.
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"Cooperation between universities will support India's drive to be at the forefront of worldwide developments, ensure that Indian and European qualifications are equally recognised and valued," said Brian Toll, Senior Policy Advisor, International Cooperation in Education and Youth, EU.
"EU has a credit transfer system on the lines of that in India. But for instance, for a Master's degree course, EU has a duration of one year, so Indian students are apprehensive about the acceptability of the degree in India.
"We have raised these concerns with the HRD ministry as well and the qualification recognition issue is being deliberated upon," said Furqan Qamar, Secretary General, Association of Indian Universities.