Danfoss to develop more 'Made in India' products to serve the local market

Danfoss India, subsidiary of Denmark-based Danfoss, has drawn up plans to increase manpower and develop more 'Made in India' products to serve the local market, a top official has said.

Danfoss India, on Thursday, completed 25 years of its operations in the country and 90 years globally.

In 2022, Danfoss India registered double-digit growths in all three segments -- Danfoss Power Solutions, Danfoss Power Electronics and Drives, along with Danfoss Climate Solutions.

The Indian subsidiary was also growing at the highest rate among all the Danfoss groups at the global level and Danfoss India is seen as a priority market with high growth potential.

"I am delighted to celebrate Danfoss' 25th anniversary in India which also coincides with our 90th anniversary worldwide. The many milestones we have achieved together with our partners and customers is a testimony of Danfoss' contribution to India's growth story,'' Danfoss A/S president and chief executive officer Kim Fausing said at the anniversary celebrations.

"The decarbonisation of our operations will continue to be a key part of our strategy as we strive to support India's ambitious net zero emission targets." he said.

Danfoss globally achieved Euro 10.3 billion in its sales in 2022, up by 36 per cent over the previous year.

According to the future roadmap laid out by the officials, Danfoss aims to be present in 80 cities across India in the next two years and has planned to boost localisation in its products that are currently at an average of 50 per cent.

"As we celebrate our 25th anniversary, I thank all my colleagues, channel partners, wholesalers, customers and industry stakeholders for reposing their trust in our extraordinary journey," Danfoss India president Ravichandran Purushothaman said.

"We are poised for 2x growth by 2025 and aspire to be a preferred sustainability partner to our customers supporting India's climate action and green transition ambitions," he said.

Danfoss India began operations as a sales company in the 1960s. Later in the 1990s, it began operating independently to grow from 10 to the current over 3,500 employees.

Danfoss India's Research and Development and Application Development Centre employs over 1,000 people and has been instrumental in designing products that serve not only to the local market but also overseas.

A decarbonisation centre coinciding with the anniversary celebrations was also inaugurated here at the Danfoss India's Chennai unit to showcase energy efficient and sustainable solutions for commercial buildings.

The centre would provide first-hand experience of Danfoss technology to mitigate the carbon emissions that would lessen the cost of ownership. The centre would also impart training to stakeholders to adopt sustainable solutions that help hasten India's net zero ambitions, the company added.