Prime Minister Narendra Modi on Thursday welcomed AustralianSuper’s announcement in Melbourne that the fund will invest AU$500 million in India, calling it a clear endorsement of global confidence in the country’s growth and reform agenda. He said the commitment underscores the immense opportunities India’s dynamic economy offers to international investors and reflects the success of policy reforms aimed at improving the investment climate.

Addressing the India-Australia CEO Forum in Melbourne, PM Modi described the pledge as another milestone in deepening economic ties with Australia and a timely signal that long‑term foreign capital sees India as a stable, high‑growth destination for large-scale, patient investments.

AustralianSuper CEO Paul Schroder said, “I have had the chance to meet with PM Modi before and he is 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 also added, “AustralianSuper today announced that we will be investing an additional 500 million Australian dollars in the NIF which is an infrastructure fund and that will provide a great opportunity for AustralianSuper members to earn a proper return over time and for investments to happen in infrastructure which will help Indian communities and Indian people wherever they are.”

ALSO READ

AustralianSuper adds AU$500m to NIIF, lifts India holdings to AU$3.3bn

AustralianSuper will deepen its stake in India’s National Investment and Infrastructure Fund (NIIF) with a fresh AU$500 million infusion, taking its total exposure across Indian asset classes to AU$3.3 billion. The new commitment follows an initial AU$240 million investment made in 2019—which the superannuation fund says has been one of its best-performing infrastructure assets—and reflects growing confidence in India’s long-term growth story and infrastructure opportunity.

AustralianSuper’s Chief Investment Officer Shaun Manuell said the decision to reinvest underscores the value of pairing patient capital with stable policy and trusted institutions. “Our experience with NIIF demonstrates what can be achieved when long‑term capital is combined with visionary policy, trusted institutions and strong partnerships,” he said, adding that India’s robust economic expansion, expanding middle class and easier institutional deployment of capital were decisive factors. The fund now holds roughly AU$2.8 billion already invested in India across infrastructure, equities and private markets and CEO Paul Schroder will attend the Australia‑India Annual Leaders’ Summit to discuss the announcement.

‘Australia’s vast uranium reserves align directly with India’s nuclear journey’: PM Modi

PM Modi also called for a deeper partnership between India and Australia, focusing on energy transition, clean technology manufacturing, and long-term infrastructure investment. He said that closer cooperation between the two nations is essential amid global uncertainty, supply-chain disruptions, and an ongoing energy crisis.

PM Narendra Modi highlighted the rapid progress made since the Economic Cooperation and Trade Agreement (ECTA) was signed in 2022. He urged Australian capital and technology to support India’s ambitious climate and energy goals.

Modi noted that the ECTA, concluded in record time in 2022, has laid the foundation for stronger bilateral economic ties.

“Since its implementation, exports from India to Australia have doubled, and businesses in both countries have benefited from new market access,” he said. He framed the broader India-Australia relationship as a practical, trade-driven partnership with the potential to be scaled up to meet shared strategic and economic objectives.

Narendra Modi also highlighted nuclear power as a major plank of India’s energy strategy, announcing a target of 100 gigawatts of nuclear capacity by 2047. He directly tied this ambition to Australia’s vast uranium resources, describing a natural alignment between Australia’s raw materials and India’s nuclear journey.

“Australia’s vast uranium reserves align directly with India’s nuclear journey,” he said, calling the connection an historic opportunity to enhance cooperation in civil nuclear energy.

PM Modi pitches India as a clean‑energy manufacturing hub for Australian firms

At the heart of PM Modi’s appeal was cooperation on clean energy. He underlined India’s target of achieving 500 gigawatts of renewable energy capacity by 2030 and reiterated the country’s long‑term commitment to net zero by 2070.

“Many companies associated with clean energy are present here,” he told the India-Australia CEO Forum, adding that India is actively building a domestic manufacturing ecosystem for hydro projects, green hydrogen, solar modules and wind turbines.

PM Modi positioned India not only as a market for clean‑energy technologies but also as a manufacturing base where Australian firms can plug into domestic value chains. He said Australia’s technology and capital can accelerate India’s energy transition, creating mutually beneficial industrial linkages and supply‑chain resilience.

Beyond energy, Modi invited long‑term Australian investors to participate in India’s infrastructure build‑out. He pointed to ports, airports, roads, railways and urban infrastructure as sectors with “immense possibilities” for Australian capital. PM Modi highlighted the stability and scale of Indian investment opportunities, particularly for institutional investors such as Australian pension funds.

“Australian pension funds manage assets worth over 4 trillion dollars; in India, pension savings are regarded as a sacred trust, we offer your funds opportunities for safe, stable growth,” he said, pitching India as a destination for long‑horizon, low‑risk allocations.

ALSO READ

Strategic timing and mutual benefit between India and Australia

PM Modi framed the outreach as timely given global volatility. “The world is currently navigating a period marked by uncertainty, supply chain disruptions, and an energy crisis. In such times, it is both natural and essential for India and Australia to move forward as natural and trusted partners,” he said, urging both countries to leverage complementary strengths—India’s market, scale and manufacturing ambition, and Australia’s technology, resources and capital.

He also pointed to the presence of many clean‑energy companies at the forum as evidence of momentum and stressed practical collaboration- technology transfer, joint ventures in manufacturing, supply‑chain integration for renewables and green hydrogen, and secure fuel supplies for nuclear power. PM Narendra Modi suggested that closer engagement would not only help India meet its targets but also create industrial opportunities and market access for Australian firms across energy and infrastructure value chains.

Framed against the trade gains from ECTA, PM Modi used the CEO forum to deliver a twofold economic and strategic message- deepen commercial ties and pursue targeted collaboration in energy and infrastructure to strengthen growth and energy security for both countries. He outlined a clear multi-year agenda — speed up renewable manufacturing, lock in nuclear fuel partnerships and steer long-term Australian capital into India’s ports, airports, roads, railways and urban projects — arguing these steps are crucial to forge resilient, future-ready bilateral ties.