Finance Minister Nirmala Sitharaman on Thursday praised Prime Minister Narendra Modi after Australia's largest pension fund, AustralianSuper, announced an additional investment of AUD 500 million in India's National Investment and Infrastructure Fund (NIIF).
In a post on X, Sitharaman said the fresh investment reflects growing international confidence in India's economy under Prime Minister Modi's leadership.
"Thank you @PMOIndia for championing greater investments in India and strengthening the #NIIF. Under PM @narendramodi ji's leadership, India continues to be the fastest-growing economy. Thanks #AustralianSuper for continuing your trust in NIIF," she wrote.
The Finance Minister also highlighted that the latest commitment will raise AustralianSuper's total investments across asset classes in India to AUD 3.3 billion.
"AustralianSuper will deepen its commitment to India's National Investment and Infrastructure Fund (NIIF) with a further AU$500 million, taking the Fund's overall holdings in India across all asset classes to AU$3.3 billion," she added.
Prime Minister Modi also welcomed the announcement through a post on X, describing it as another indication of the world's growing confidence in India's economic progress and reform agenda.
"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 Prime Minister said.
The announcement came after PM Modi addressed the India-Australia CEO Forum and Economic Roadmap Business Reception during his visit to Australia. In his address, he projected India as a reliable long-term investment destination, highlighting the deepening economic partnership between India and Australia. He also invited global pension funds to increase their investments and participate in India's long-term infrastructure and development journey.
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AustralianSuper Chief Executive Officer Paul Schroder praised Prime Minister Modi's long-term economic outlook, saying the Indian leader has consistently fostered a stable and predictable policy environment that encourages large-scale global investments.
Speaking on the sidelines of the India-Australia CEO Forum and Economic Roadmap Business Reception, Schroder reaffirmed the pension fund's confidence in India and outlined its latest investment commitment to strengthen the country's infrastructure sector.
"I have had the chance to meet with Prime Minister Modi before, and he has always assured me that he understands business and investing. He thinks in the very long term about the prosperity of India and making sure that investors have a stable policy setting. I have been very impressed with the way he engages with business. One of the great things about the CEO Forum today was discussing the strong relationship between the Australian and Indian people and how important it is for us to continue learning from each other and further strengthening that partnership," Schroder said.
According to AustralianSuper, the latest AUD 500 million commitment builds on the AUD 240 million investment it made in NIIF seven years ago, reinforcing its long-term confidence in India's infrastructure and growth potential.
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