One of the most significant changes in recent years has been an evolution in the role of education in the global arena. As education has increasingly assumed the role of a tradable service, countries from all parts of the world have become active participants in the ongoing internationalization of higher education. One of the key outcomes of this process has been the phenomenal growth in international student mobility since 1998. A burgeoning industry which generates revenues of up to 90 billion dollars clearly spells strong financial incentives for participants of this industry.  It also implies that factors influencing international student flows have serious implications for the providers as well as consumers of higher education abroad. This paper attempts to address the issue of student mobility between two key stakeholders - India and Europe. In particular, it analyses the trends in student mobility from India to three important markets in Europe - the United Kingdom, Germany and France. The paper identifies various factors which motivate Indian students to pursue higher education abroad, in addition to market features of the host countries which attract them. The paper also identifies the constraints faced by Indian students studying in these countries and concludes with recommendations which, if implemented, can further facilitate the flow of Indian students going to Europe for higher education.