Prime Minister Narendra Modi on Thursday welcomed AustralianSuper's announcement to invest AU$500 million in India, saying the commitment reflects growing global confidence in the country's economic growth and reform trajectory, while highlighting the long-term opportunities available for international investors.

Key Highlights

• AustralianSuper, Australia's largest pension fund, announced a AU$500 million investment in India's growth story.
• Modi called the investment a sign of global confidence in India's economic and reform trajectory.

The investment was announced by AustralianSuper CEO Paul Schroder during the India-Australia CEO Forum and Economic Roadmap Business Reception in Melbourne, attended by Modi as part of his three-day visit to Australia. In a post on X, Modi said, "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."

Australia's Largest Pension Fund Backs India's Prospects

AustralianSuper, Australia's largest pension fund with more than AU$410 billion in assets under management, said the investment reflects its long-term confidence in India's economic prospects. Schroder praised Modi's engagement with businesses and his long-term vision for India's economic development, noting that the Prime Minister "understands business and investing" and focuses on ensuring stable policy settings for investors.

Addressing the CEO Forum, Modi invited Australian investors to expand their long-term investments in India. He also welcomed the growing presence of Australian universities in India, saying greater collaboration in higher education, research,innovation and skill development would help prepare talent in both countries for future opportunities.

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Addressing the Economic Roadmap Business Reception, attended by more than 200 CEOs and business leaders from both countries, Modi highlighted the natural complementarities between India and Australia, citing shared democratic values, a common vision for the Indo-Pacific, strong political ties, and vibrant people-to-people relations as a strong foundation for expanding economic cooperation.

Modi noted the growth in bilateral trade and investment since the implementation of the Economic Cooperation and Trade Agreement (ECTA) in 2022, and called for the early conclusion of the proposed Comprehensive Economic Cooperation Agreement (CECA) to further strengthen commercial ties.

Focus on Strategic Sectors

PM Modi urged businesses to leverage the complementary strengths of both countries to build global value chains in strategic sectors such as rare earths, lithium, batteries, electronics, electric vehicles, semiconductors, artificial intelligence, and defence. Modi also stressed the need for Indian states and Australian provinces to forge stronger economic partnerships based on their respective competitive advantages, expressing optimism that India-Australia economic ties were poised for further growth.