Danfoss Boosts Local Manufacturing in India with Rs 500 Crore Investment

Danfoss, a global leader in HVAC and compressors, announces its commitment to advancing local manufacturing in India with a Rs 500 crore investment. This move supports the Make in India campaign, aiming to develop a local supplier ecosystem and drive sustainable growth in the Indian HVACR sector.

Danfoss, a global frontrunner in heating, ventilation, air-conditioning, and compressors, has set ambitious local manufacturing targets in support of the Make in India initiative over the coming five years, the company declared on Tuesday.

Earlier this year, Danfoss India, a subsidiary of Denmark-based Danfoss, pledged a Rs 500 crore investment to bolster local manufacturing of HVAC and refrigeration compressors and controls. This move aligns with the rapid expansion of the country's HVACR sector.

Danfoss's strategy includes enhancing customer support through increased localization and diversifying product lines. According to Kristian Strand, President of Danfoss Commercial Compressors, India forms a critical element of their global strategy aimed at promoting growth and sustainable innovation. The investment is also designed to weather geopolitical changes and harness emerging business prospects while addressing the Make in India objectives.

(With inputs from agencies.)