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Danfoss eyeing growth in India and Mexico
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January 23rd, 2015
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This article is more than 9 years old.
There is great growth potential in the two nations
The industrial giant Danfoss is eager to increase its activity in India and Mexico, and the Danish company sees great potential in helping the two nations improve their production and energy efficiency.
Niels B Christiansen, the CEO of Danfoss, believes that there is great growth potential in India and that there will be significant opportunities for the company in a nation looking to streamline its food production and “
“Some 200-300 million Indians will move to the cities in the next five years,” Christiansen told Berlingske newspaper. “They need to build motorways and skyscrapers; they are clever and they have energy labelling on their buildings.”
“That means that there is a market for energy efficiency. We can build up a pipeline so we can keep producing new things,” he continued.
The Danfoss head compared the situation in India to that in China, which has invested heavily in infrastructure in recent years. India's new leader Narendra Modi has pledged to fight corruption and bureaucracy and promised economic reform, and that is equally promising," Christiansen contended.
READ MORE: Danfoss bids to buy Finnish competitor
Staying put in Russia and China
Mexico – with its more than 120 million citizens – is also a nation that Danfoss sees great potential in.
“They will be building a lot of air conditioning systems that we can be a part of. But again, it's mostly about the growth and we want to be a part of that,” Christiansen said. “It's easier to rise with the water level rather than to go against the wind.”
Christiansen revealed that despite Danfoss moving to the promising markets in India and Mexico, the company wouldn't be scaling down its operations in Russia and China, where the company has been very active in recent years.
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