"Confidence in India's growth": PM Modi welcomes A$500m investment by Australia's largest pension fund in India's infrastructure fund
Melbourne, July 9
Welcoming a massive capital commitment from AustralianSuper, Australia's largest pension fund managing over 410 billion Australian dollars in assets, Prime Minister Narendra Modi noted that the investment reflects the burgeoning global confidence in India's economic path and the vast potential of its domestic market.
In a post on X, PM Modi shared, "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's remarks on X followed his address at the India-Australia CEO Forum and Economic Roadmap Business Reception during his visit to the nation.
Pitching India as a secure and dependable long-term investment destination, PM Modi spotlighted the expanding economic synergy between the two democracies and welcomed pension giants to participate in India's long-term growth trajectory by scaling up their footprints.
"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. There is a natural synergy between the two nations in the realms of education and skills... Our shared goal should be to transform student mobility into talent partnerships," PM Modi stated at the forum.
This strong pitch coincided with the formal financial commitment from AustralianSuper, which confirmed it would funnel an additional 500 million Australian dollars (approximately 346 million US dollars) into India's National Investment and Infrastructure Fund (NIIF).
According to the pension giant, this fresh capital injection builds upon the 240 million Australian dollars it committed seven years ago.
The pension behemoth disclosed that its total investment portfolio in India has now reached 3.3 billion Australian dollars, spanning key asset classes, including infrastructure, listed equities, and private markets.
Set up in 2015, the NIIF serves as India's flagship vehicle to anchor global capital into the country's domestic infrastructure development.
Affirming the success of this partnership, AustralianSuper noted that its initial NIIF investment has emerged as one of the fund's best-performing infrastructure investments globally, reinforcing PM Modi's narrative of safe and sustainable returns.
— ANI
Leave a comment