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Deakin's partnership with Indian Oil Corporation Limited - one of the leading energy companies in India and is ranked 105 in the Fortune 500 Global company rankings - was formalised in 17 January 2010 with the signing of a Memorandum of Understanding (MOU).
Under the terms of the MOU, the two organisations have agreed to collaborate and assist each other on a number of projects as an extension of the Deakin India Research Initiative (DIRI). The new partnership will bring researchers working with Indian Oil to Deakin under Indian Oil Golden Jubilee Research Fellowships.
The DIRI is seen as a very genuine and reciprocal partnership between Deakin University and Indian industry.