A number of new tie-ups between British and Indian scientists, from health research to predicting the weather, are also due to be signed next week.
"The major trade mission I am leading to India next week marks a turning point in the relationship between our countries. Our links with India are one of the strongest we have with any country and the openness to trade and investment promised by Prime Minister (Narendra) Modi drives us closer still to the new 'special relationship' we have been aiming for since 2010," Clegg said ahead of his first ever visit to India.
He will visit Delhi, Mumbai and Bangalore during the trip.
"Science, research and development present clear opportunities to work together to tackle global challenges and boost jobs and growth. Between us, we have some of the best universities in the world, combined with unrivalled entrepreneurial spirit from innovative companies of all sizes," he said.
"The scale of the problems we are tackling together is huge, and we could see thousands of lives saved. The impact on the world in the fields of climate research, drug resistance and elsewhere could be absolutely historic."
Deputy PM Nick Clegg will visit Delhi, Mumbai and Bangalore during the trip
Besides meetings with Modi and senior Cabinet minister Arun Jaitley, the leader of the UK coalition partner Liberal Democrats will announce four projects that have won a share of over 2 million pound funding from the UK's Technology Strategy Board and the Indian Department of Science and Technology to create new commercial technology in the health and energy sectors.
The UK's innovation agency, formerly known as the Technology Strategy Board, is investing 1 million pound to support the UK's involvement in these four projects, with matched resources from UK and Indian businesses and from the government of India.