Australian pension fund AustralianSuper has announced an additional investment of AU$500 million in India’s National Investment and Infrastructure Fund (NIIF), taking its total investments across all asset classes in India to AU$3.3 billion.
The announcement coincides with Prime Minister Narendra Modi’s official visit to Australia, underscoring the growing economic and investment partnership between the two Indo-Pacific nations.
The fresh commitment builds on AustralianSuper’s initial AU$240 million investment in NIIF in 2019, which the fund described as one of its best-performing infrastructure investments.
NIIF, India’s sovereign-anchored investment platform managed by National Investment and Infrastructure Fund Limited (NIIFL), is backed by the Government of India, which holds a 49% stake. The fund currently manages capital commitments of around ₹40,000 crore across multiple investment strategies focused on infrastructure and related sectors.
Addressing a CEO forum in Melbourne, Prime Minister Modi highlighted India’s strong economic growth, policy reforms, digital transformation and expanding innovation ecosystem as key drivers of new investment opportunities for global investors. He pointed to sectors including manufacturing, clean energy, critical minerals, mining, infrastructure, urban development, aviation, logistics, advanced technologies, artificial intelligence, fintech, food processing and the digital economy.
Commenting on the investment, Shaun Manuell, Chief Investment Officer of AustralianSuper, said the fund’s partnership with NIIF has been one of its most successful investments, prompting the decision to increase its commitment.
“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,” Manuell said.
AustralianSuper currently has approximately AU$2.8 billion invested in India across infrastructure, equities and private markets, with the latest investment further strengthening its long-term commitment to the country’s growth story.