Mike Ewing, Dean of Deakin Business School, and Sridhar Seshadri, Senior Associate Dean, Faulty and Research, ISB, signed a Memorandum of Understanding at the ISB campus to operationalise the collaboration.
The MoU, which includes internationalising the curriculum, has been signed for an initial period of three years starting from October 21 this year.
As part of the agreement, both partners would endeavour to conduct joint research, teaching and engagement in areas of common interest, including provision of opportunities for further internationalising the curricula of business programmes offered by ISB and Deakin Business School (DBS).
"Faculty have visited each other's institutions on a few occasions already and we recently successfully piloted a joint, synchronous case study - whereby ISB and DBS students analysed the same case-study in real-time.
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"This is an innovative approach to enable authentic cross-cultural interaction for geographically dispersed students. We will continue to innovate, push boundaries and look for synergies in the partnership," he said.
"Under the teaching and learning activities, the partners have already begun to engage in academic collaboration including exchange of resource material that are of mutual interest and assessment of units for credit for prior learning for academic programmes offered at each institution," Seshadri said.
The partnership will be coordinated through Deakin University's South Asia office based in New Delhi.
Deakin was one of the very first international education providers to set up operations in India in 1994.