Companies

Danfoss India to invest ₹100 crore in expansion, localisation

V Rishi Kumar Hyderabad | Updated on November 18, 2020 Published on November 18, 2020

Sees big opportunity in power electronics in India’s renewable energy push

Danfoss Industries has finalised plans to expand its manufacturing base located at Oragadam near Chennai with an investment of about ₹100 crore which will enable it to manufacture new products in certain segments while stepping up localisation.

The company, which provides energy efficiency solutions with its drives, plans to take up the localisation level from 35-40 per cent to 90 per cent over the next two-three years, by partnering with local supply chain of MSMEs, as a part of the Centre’s ‘Athmanirbhar Bharat’ mission.

“We have bounced back faster than one would think from the Covid pandemic lockdown. The digitisation programme we initiated played a significant role during the lockdown phase. The business has grown to last year’s levels within the past three months. Now, we are looking at the next phase of growth across various businesses, including power electronics,” said Ravichandran Purushothaman, President, Danfoss India.

Interacting with BusinessLine on Wednesday, he said: “The country is targeting 175 GW of renewable energy, which calls for a lot of integration in the grid, where Danfoss’ power electronics products and solutions will play a significant role. This is where we are investing to meet the emerging demand from not just an India perspective but also for exports down the line.

“The Danfoss Group has invested over ₹1,000 crore in last six years and we are now stepping up focus on localisation based on Indian R&D, and strengthen local manufacturing.”

Danfoss India, a 100-per cent owned subsidiary of Danfoss Group, serves a wide range of industries with its drives, electrification products, heating valves, controls and solutions for refrigeration, air conditioning, HVAC, heavy industries, district cooling and under floor heating applications.

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Published on November 18, 2020
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