Prime Minister Narendra Modi on Thursday welcomed AustralianSuper's decision to invest an additional AU$500 million in India's National Investment and Infrastructure Fund, saying the move reflected growing global confidence in the country's economic and reform trajectory.
In a post on X, Modi wrote, "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."
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…
— Narendra Modi (@narendramodi) July 9, 2026
AustralianSuper said the fresh commitment would deepen its exposure to the NIIF and take its overall holdings in India across all asset classes to AU$3.3 billion. The fund currently has about AU$2.8 billion invested in India across infrastructure, equities and private markets.
The latest investment builds on AustralianSuper's original AU$240 million commitment to NIIF in 2019, which the fund said has been one of its best-performing infrastructure assets for members.
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The NIIF was established in 2015 to attract global investors and deploy long-term capital into infrastructure development in India. Schroder is expected to attend the Australia-India Annual Leaders' Summit in Melbourne, where the announcement will be discussed.
AustralianSuper Chief Investment Officer Shaun Manuell said the fund's partnership with NIIF had delivered strong results, prompting the pension fund to increase its commitment. "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 said the fund's experience with NIIF showed what could be achieved when long-term capital was combined with "visionary policy, trusted institutions and strong partnerships". Manuell added that policy consistency was a key factor behind the decision to make a second investment.
Calling India an attractive investment destination, Manuell cited the country's strong economic growth, expanding middle class and government measures that have made it easier for institutions to deploy capital successfully. "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," he said.
The announcement comes as India and Australia continue to deepen economic engagement, with long-term institutional capital emerging as a key area of cooperation between the two countries.
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