It is also eyeing placement opportunities for its students with leading Indian corporates.

"We are planning a tie-up with IIT Mumbai's management faculty for research collaborations and faculty exchanges as we would like to see a greater focus on emerging markets other than China. India is a big focus area for us along with Europe and Latin America," said Bill Charles, head of department of economics and commerce, University of Melbourne.

He said the university was also considering similar tie-ups with IIM Bangalore and the Delhi School of Economics.

The University has around 150 Indian students pursuing management studies, both at Charles' department and the school of management studies.

In addition to academic collaborations, the University is also scouting for summer placement opportunities among top Indian corporates.

It is currently in talks with companies like Colgate Palmolive, ABN-AMRO, Glaxo SmithKline, Patni Computers, Infosys [Get Quote], Wipro [Get Quote] and Accenture, among others.

"At a later date, we would like to add these Indian companies to our regular placement database, so they can recruit from our pool of graduate students," said Charles.

The university has 800 companies on its placement database, of which nearly half are companies based in the Asia-Pacific region.