Prime Minister Manmohan Singh on Monday said partnership between India and the US on education held "great promise" as no other countries were "better equipped to be partners in building the knowledge economy of the future".
"Cooperation in the field of education holds great promise because no two other countries are better equipped to be partners in building the knowledge economy of the future," the prime minister said in his opening remarks at a joint press conference with US President Barack Obama at the Hyderabad House.
Nearly 100,000 Indian students are studying in various American institutes in the US.
Manmohan Singh announced that the two countries would hold a higher education summit next year. This year, a three-day summit was organised in July in Mumbai.
"The US is one of our largest trading partners. Our trade is balanced and growing. India is among the fastest growing sources of investment in the US. Indian investments have helped to increase the competitiveness of the US economy.
"We welcome increased US investments and high technology flow in key sectors of our economy...," he added.