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Danfoss plans fresh investment of ₹500 crore in India in localisation and capacity expansion

ThehindubusinesslineThehindubusinessline · 8m
Danfoss plans fresh investment of ₹500 crore in India in localisation and capacity expansion

Danfoss, a leading energy-efficient solutions provider, plans to invest ₹500 crore in India for localisation and capacity expansion. The company aims to continue its investment strategy in India due to the country's strong growth outlook. Despite challenges in the second half of 2023, Danfoss achieved a 20% growth in India, making it the fastest growing market for the company. The investment will focus on localisation and expanding capacity across its six factories in India, and is expected to result in the employment of over 500 people. Danfoss sees opportunities in the energy transition space, particularly in areas such as solar power, battery energy storage systems, green hydrogen, and heat pumps.

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