Prime Minister Narendra Modi on Thursday welcomed AustralianSuper’s decision of investing $500 million Australian dollars in India’s National Investment and Infrastructure Fund (NIIF), and stated that the move demonstrated global trust in India’s growth story.AustralianSuper Chief Executive Officer Paul Schroder announced the investment during the India-Australia CEO Forum and Economic Roadmap Business reception in Melbourne, which PM Modi attended as part of his three-day visit to Australia.On his official X handle, PM Modi wrote, “India welcomes the AU$500 million investment from AustralianSuper, announced by their Chief Executive, Paul Schroder this morning in Melbourne. 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.”With this investment, the Australia’s largest pension fund now has $3.3 billion Australian dollars in total holdings in India across all asset classes.The latest commitment comes after AustralianSuper first invested $240 million Australian dollars in the NIIF in 2019; according to the fund, this was one of its best-performing infrastructure investments.The investment demonstrated the fund’s faith in India’s long-term growth prospects and policy environment, according to Australian Super Chief Investment Officer Shaun Manuell.“AustralianSuper’s investment in the NIIF has been one of our most successful partnerships and that’s why we’re excited to invest again to help drive returns for members,” Manuell said, adding that “our experience with NIIF demonstrates what can be achieved when long-term capital is combined with visionary policy, trusted institutions and strong partnerships.”Manuell outlined the reasoning for the fresh investment and stated that policy consistency was still a crucial component. “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,” he said.“AustralianSuper is making a second investment in the NIIF because those fundamental strengths are still there and we see the potential for more returns for members,” he further added.AustralianSuper is Australia’s largest pension fund, managing over 410 billion Australian dollars in assets.