Danfoss Reinforces Commitment to India’s Green Transition
The year 2023 marks Danfoss completing 25 years in India and 90 years, globally. On the sidelines of the silver jubilee celebrations, a ‘Decarbonisation Centre’ was inaugurated.
March 10, 2023. By Anurima Mondal
Freddy Svane, Ambassador of Denmark to India, Jorgen Clausen, Chairman Emeritus – Danfoss and other founding members along with Jens Bjerg Sørensen, Chairman, Kim Fausing, President & CEO, Jesper V Christensen, Executive VP & CFO, Ravichandran Purushothaman, President Danfoss India Region graced the occasion along with Indian management team and other stakeholders.
Danfoss reached EUR 10.3 billion global sales in 2022, up 36 percent, while organic growth was up 15 percent and EBITA margin reaching 11.9 percent. Its business in India recorded a strong double-digit growth in 2022. The company aims to steadily increase manpower with a thrust to develop more ‘Made in India’ products to cater to the growing needs of the local markets.
Speaking on the occasion Kim Fausing, President and CEO, Danfoss A/S said, “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.”
“With our record levels of investments in production capacity, regionalization, and digital solutions, we are targeting to further improve the service to our customers globally, including India,” he added.
Ravichandran Purushothaman, President- Danfoss India said, “We are poised for 2X growth by 2025, and we aspire to be a preferred sustainability partner to our customers supporting India's climate action and green transition ambitions. The Government of India has identified Green Growth as one of the key priorities for Amrit Kaal India@100 which makes Danfoss India even more relevant to the energy efficiency and decarbonisation needs of the country across industry sectors.”
The company intends to be present in 80 cities of India in the next two years. Danfoss India aims to enhance its localization levels which are currently on an average of 50 per cent across various product ranges.
As India starts to put a lot more focus on PLI schemes, infrastructure, electrification, healthcare, metro projects, high-speed trains, food supply chain, data centres, etc. there will be new hotspots for strong growth emerging out of India’s decarbonisation mission.
On the sidelines of the silver jubilee celebrations, a ‘Decarbonisation Centre’ was inaugurated at Chennai campus to showcase energy efficient and sustainable solutions for commercial buildings’.
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