Danfoss is expanding its footprint in India with a Rs 1,200 crore investment over the next three years as it aims to double its revenue to €1 billion by 2028. The Denmark-based company is banking on strong economic growth and increased localisation efforts to accelerate its expansion.

Of the total investment, Rs 1,000 crore will be used to establish Danfoss' seventh manufacturing facility in Talegaon, Pune, while the remaining funds will enhance capacity and introduce new product lines at its Chennai campus.

“The driving force behind this investment is our commitment to localisation, which has become even more crucial due to evolving geopolitical factors,” said Ravichandran Purushothaman, President of Danfoss India.

India remains Danfoss’ fastest-growing region, recording strong double-digit growth in 2024. Despite a temporary slowdown in Q2 due to elections, the company saw a rebound in the latter half of the year. Danfoss India surpassed Rs 4,000 crore in revenue in 2024 and is on track to achieve Rs 5,000 crore this year.