FM Sitharaman hails PM Modi for securing AustralianSuper's AUD 500 million NIIF investment
New Delhi, July 9
Finance Minister Nirmala Sitharaman on Thursday lauded Prime Minister Narendra Modi for securing AustralianSuper's additional AUD 500 million investment in India's National Investment and Infrastructure Fund.
Taking to her official X account, FM Sitharaman said India has continued to be fastest growing economy under Prime Minister Narendra Modi's leadership.
"Thank you @PMOIndia for championing greater investments in India and strengthening the #NIIF. Under PM @narendramodi ji leadership, India continues to be the fastest growing economy. Thanks #AustralianSuper for continuing your trust in NIIF," she said.
She further noted, the fresh commitment will take 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 noted.
Prime Minister Narendra Modi shared the development on his official X account, saying the investment underscores growing global confidence in India's economic trajectory and highlights the immense opportunities offered by its expanding domestic market.
Taking to his official X handle, 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."
PM Modi's post on X came after his address at the India-Australia CEO Forum and Economic Roadmap Business Reception during his visit to Australia. Positioning India as a trusted and attractive long-term investment destination, PM Modi highlighted the growing economic partnership between the two countries and invited global pension funds to expand their investments and participate in India's long-term growth story.
Highlighting Prime Minister Narendra Modi's long-term economic vision, AustralianSuper Chief Executive Officer Paul Schroder has emphasised that the Indian leader consistently provides the predictable and stable policy environment essential for major global investments.
Speaking on the sidelines of the India-Australia CEO Forum and Economic Roadmap Business Reception, the chief of Australia's largest pension fund expressed strong confidence in the bilateral partnership, detailing a fresh financial commitment aimed at bolstering India's domestic infrastructure network.
"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. And one of the great things about the CEO Forum today was talking about the great strengths of the relationship between the Australian and Indian people and how important it is for us to continue to learn from each other and continue to improve," Schroder said.
As per the pension giant, this fresh capital injection builds upon the 240 million Australian dollars it committed seven years ago.
— ANI
Reader Comments
While this is positive, I hope these investments actually translate to better infrastructure for common people. We've seen many big announcements but ground-level improvements in roads, railways, and water supply still need attention.
From $240 million to $500 million - that's a 108% increase! AustralianSuper's confidence in India's long-term growth story is impressive. The CEO's words about PM Modi's vision for stable policy environment really resonate.
It's interesting to see a major Australian pension fund doubling down on India. This shows that the India-Australia economic partnership is deepening beyond just trade. The infrastructure focus is smart - it creates jobs and boosts productivity.
Good move by AustralianSuper, but I wish the government would also focus on attracting more FDI in manufacturing and technology sectors, not just infrastructure. We need to diversify our investment inflows to create more high-skilled jobs.
Amazing to see PM Modi's consistent engagement with global investors paying off! The CEO specifically mentioned how PM Modi understands long-term business needs - that's the kind of leadership we need for sustained economic growth. 👏
As a foreign investor, this
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