Sitharaman welcomes AustralianSuper’s AU dollar 500 million investment in NIIF

Finance Minister Nirmala Sitharaman welcomed AustralianSuper's additional AU$500 million investment in the National Investment and Infrastructure Fund, calling it a vote of confidence in India's growth. The announcement coincided with Prime Minister Narendra Modi's Australia visit and broader energy and investment cooperation

New Delhi: Union Minister for Finance and Corporate Affairs Nirmala Sitharaman on Thursday welcomed AustralianSuper’s additional $500 million (Australian dollar) investment in India’s National Investment and Infrastructure Fund (NIIF), saying the move reflected global investors’ continued confidence in India’s growth story under the leadership of Prime Minister Narendra Modi.

Reacting to announcement in a post on X, Sitharaman thanked PM Modi for championing greater investments in India and strengthening the NIIF. “Thank you @PMOIndia for championing greater investments in India and strengthening the NIIF. Under Prime Minister Narendra Modi’s leadership, India continues to be the fastest-growing economy. Thanks AustralianSuper for continuing your trust in NIIF,” she wrote.

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AustralianSuper — Australia’s largest pension fund — earlier in the day announced an additional $500 million (Australian dollar) investment in the NIIF, taking its total holdings in India across all asset classes to $3.3 billion.

The announcement was made on the sidelines of the Australia-India Annual Leaders’ Summit in Melbourne, where PM Modi and his Australian counterpart Anthony Albanese jointly addressed the Australia-India CEOs Forum and the Economic Roadmap Business event.

Moreover, PM Modi also welcomed the investment, describing it as another reflection of global confidence in India’s growth and reform trajectory.

“India welcomes the AU$500 million investment from AustralianSuper… 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 said in a post on X.

Meanwhile, Union Petroleum and Natural Gas Minister Hardeep Singh Puri said the India-Australia Joint Statement on Energy Security issued during PM Modi’s visit would provide fresh momentum to India’s quest for energy self-sufficiency.

In a post on X, Puri said the two countries had reaffirmed their commitment to strengthening energy security, accelerating the energy transition and enhancing cooperation on low-carbon fuels.

He also noted that India and Australia had also committed to supporting the continued flow of energy products, expanding bilateral energy trade and investment, and strengthening resilient energy supply chains through deeper regional cooperation.