Prime Minister Narendra Modi on Thursday welcomed AustralianSuper’s decision to invest A$500 million in India’s National Investment and Infrastructure Fund (NIIF), describing it as a strong endorsement of the country’s growth trajectory, reform agenda and investment potential.
In a post on X, PM Modi said, “India welcomes the AU$500 million investment from AustralianSuper, announced by their Chief Executive, Mr. Paul Schroder, this morning in Melbourne. This is yet another glimpse of the global confidence in India’s growth and reform trajectory. It also reflects the immense opportunities that our dynamic economy offers global investors.”
The announcement was made during the India-Australia CEO Forum and Economic Roadmap Business Reception, where PM Modi and his Australian counterpart, Anthony Albanese, jointly addressed leading business executives from both countries.
AustralianSuper, Australia’s largest retirement fund, said the fresh investment builds on the A$240 million it committed to NIIF seven years ago. With the latest commitment, the fund’s total investments in India have reached A$3.3 billion across infrastructure, listed equities and private markets.
Established in 2015, NIIF serves as India’s flagship platform for attracting long-term global capital into domestic infrastructure projects. AustralianSuper said its initial investment in NIIF has become one of its best-performing infrastructure investments globally, underscoring India’s attractiveness as a long-term investment destination.
Pitching India as a secure and dependable destination for long-term capital, PM Modi invited Australian pension funds to expand their presence in the country.
“Australian pension funds currently manage assets exceeding four trillion dollars. In India, pension savings are regarded as a sacred trust. India offers your funds opportunities for safe, stable and sustainable growth. Our endeavour will be to ensure that both your trust and your capital grow,” he said.
Highlighting the growing economic complementarity between the two democracies, PM Modi said India and Australia share natural synergies in education, skills and innovation. “Our shared goal should be to transform student mobility into talent partnerships,” he added.
PM Modi also highlighted India’s strong economic growth, reform-driven business environment and expanding innovation ecosystem, inviting Australian companies to partner in sectors such as manufacturing, clean energy, critical minerals, infrastructure, artificial intelligence, fintech and the digital economy.
He said India’s scale, coupled with Australia’s expertise, offered a “win-win partnership” and urged businesses from both countries to deepen collaboration and pursue long-term investment opportunities.
Addressing the Economic Roadmap Business Reception, attended by more than 200 CEOs and business leaders, PM Modi called for the early conclusion of the proposed Comprehensive Economic Cooperation Agreement (CECA) to further strengthen bilateral economic ties.
He also advocated greater collaboration in strategic sectors, including critical minerals, semiconductors, artificial intelligence, electric vehicles and defence, while encouraging stronger economic partnerships between Indian states and Australian provinces.
According to Ministry of External Affairs spokesperson Randhir Jaiswal, discussions during the business engagements reflected the shared commitment of India and Australia to expanding trade, investment and innovation-led cooperation.
(With ANI inputs)
