Australia's largest pension fund, AustralianSuper, has announced a fresh AU$500 million investment in India during PM Narendra Modi's visit to Melbourne.
The investment follows AustralianSuper's AU$240 million commitment to the National Investment and Infrastructure Fund (NIIF) in 2019, which the fund described as one of its best-performing infrastructure investments.
PM Modi said the investment reflects growing global confidence in India's reform agenda, while AustralianSuper cited the country's strong economic growth, policy stability and expanding middle class as key drivers.
Prime Minister Narendra Modi on Thursday welcomed AustralianSuper's decision to invest AU$500 million in India, calling it a strong endorsement of the country's economic growth, reform agenda and long-term investment potential.
The announcement was made by AustralianSuper Chief Executive Paul Schroder during the India-Australia CEO Forum and Economic Roadmap Business Reception in Melbourne, where Modi is on a three-day official visit.
1 June 2026
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In a post on X, the Prime Minister said the investment reflected growing global confidence in India's economic trajectory.
"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," Modi said.
Builds on Successful NIIF Partnership
The fresh investment follows AustralianSuper's AU$240 million commitment to the National Investment and Infrastructure Fund (NIIF) in 2019. Established in 2015, the NIIF was created to attract long-term global capital into India's infrastructure sector.
According to AustralianSuper, its earlier investment in the NIIF has been among its best-performing infrastructure assets.
"Our 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," Chief Investment Officer Shaun Manuell said in a statement.
Why India Remains Attractive
Manuell attributed the decision to India's strong economic fundamentals and policy stability.
"India is an attractive place to invest due to its strong economic growth and expanding middle class, and the Indian government has made it easier for institutions to deploy capital successfully," he said.
AustralianSuper currently manages around AU$2.8 billion in Indian investments across infrastructure, equities and private markets. Manuell said the fund sees further opportunities to generate long-term returns through continued exposure to the country.
PM Invites Australian Pension Funds
Addressing business leaders at the CEO Forum, Modi pitched India as a secure and dependable destination for long-term institutional capital. He highlighted the growing economic partnership between India and Australia and invited Australian pension funds to expand their presence in the country.
"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," Modi said.
The investment comes as India and Australia seek to deepen economic cooperation through greater trade, infrastructure investment and financial collaboration under their Comprehensive Strategic Partnership.
