Prime Minister Narendra Modi on Thursday welcomed AustralianSuper's decision to invest AU$500 million in India's National Investment and Infrastructure Fund (NIIF), stating that the move demonstrates global confidence in India's growth story. The announcement was made by AustralianSuper Chief Executive Officer Paul Schroder during the India-Australia CEO Forum and Economic Roadmap Business reception in Melbourne, which PM Modi attended as part of his three-day visit to Australia.
PM Modi's Response
On his official X handle, PM Modi wrote, “India welcomes the AU$500 million investment from AustralianSuper, announced by their Chief Executive, 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.”
Investment Details
With this investment, Australia’s largest pension fund now holds AU$3.3 billion in total Indian assets across all asset classes. The latest commitment follows AustralianSuper's initial AU$240 million investment in the NIIF in 2019, which the fund described as one of its best-performing infrastructure investments.
Fund's Perspective
AustralianSuper Chief Investment Officer Shaun Manuell expressed strong faith in India's long-term growth prospects and policy environment. “AustralianSuper’s investment in the NIIF has been one of our most successful partnerships and that’s why we’re excited to invest again to help drive returns for members,” Manuell said. He added that “our experience with NIIF demonstrates what can be achieved when long-term capital is combined with visionary policy, trusted institutions and strong partnerships.”
Reasons for Fresh Investment
Manuell highlighted policy consistency as a crucial factor. “India is an attractive place to invest due to its strong economic growth and expanding middle class, and the Indian government has made it easier for institutions to deploy capital successfully,” he said. “AustralianSuper is making a second investment in the NIIF because those fundamental strengths are still there and we see the potential for more returns for members.”
Background on AustralianSuper
AustralianSuper is Australia's largest pension fund, managing over AU$410 billion in assets. The investment underscores growing economic ties between India and Australia, with India's infrastructure sector benefiting from long-term foreign capital.
