PM Modi Hails A$500 Million Investment from AustralianSuper
Prime Minister Narendra Modi has welcomed a A$500 million (approximately US$346 million) investment commitment from AustralianSuper, Australia's largest pension fund managing over A$410 billion in assets. In a post on X, Modi stated that the investment reflects global confidence in India's growth and reform trajectory, as well as the immense opportunities India's dynamic economy offers global investors.
The announcement was made by AustralianSuper Chief Executive Paul Schroder during a meeting in Melbourne. Modi's remarks followed his address at the India-Australia CEO Forum and Economic Roadmap Business Reception, where he pitched India as a secure and dependable long-term investment destination.
India-Australia Economic Synergy Highlighted
At the forum, Modi emphasized the natural synergy between the two democracies, particularly in education and skills. He urged Australian pension funds, which collectively manage over four trillion dollars in assets, to scale up their investments in India. "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," Modi stated.
He also called for transforming student mobility into talent partnerships, reinforcing the bilateral ties between India and Australia.
AustralianSuper's Growing India Portfolio
AustralianSuper confirmed that the new A$500 million commitment builds on a previous A$240 million investment made seven years ago. The pension fund's total investment portfolio in India has now reached A$3.3 billion, spanning infrastructure, listed equities, and private markets. Notably, AustralianSuper noted that its initial investment in India's National Investment and Infrastructure Fund (NIIF) has emerged as one of the fund's best-performing infrastructure investments globally, underscoring Modi's narrative of safe and sustainable returns.
The NIIF, established in 2015, serves as India's flagship vehicle to anchor global capital into domestic infrastructure development.
Global Confidence in India's Growth
Modi's welcoming of the investment comes amid a broader push to attract foreign capital into India's infrastructure sector. The investment is seen as a sign of burgeoning global confidence in India's economic path and the vast potential of its domestic market. The A$500 million commitment is expected to further strengthen the economic partnership between India and Australia, aligning with the goals of the India-Australia Economic Cooperation and Trade Agreement.
According to the pension giant, the fresh capital injection will be directed into the NIIF, which has been instrumental in mobilizing international funds for Indian infrastructure projects.
