Australian Super to invest AUD 500 mn in NIIF for infrastructure development

PTI New Delhi

Finance Minister Nirmala Sitharaman on Thursday said AustralianSuper will deepen its commitment to the National Investment and Infrastructure Fund (NIIF) with a further $500 million (about $347 million) investment to fund infrastructure development.

This will bring the fund’s overall holdings in India across all asset classes to $3.3 billion, she said in a post on X.

"Thank you Prime Minister's Office 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 said.

Earlier on Thursday, Prime Minister Narendra Modi said India provides a safe, stable and sustainable growth option for funds.

AustralianSuper is Australia's largest pension fund, headquartered in Melbourne.

In a significant step to deepen India's investment commitment for infrastructure and other nationally important sectors, the Union Cabinet last month approved an additional investment commitment of ₹30,000 crore by the Centre towards new and upcoming funds of the NIIF.