Daikin Invests USD 165 million to Boost Local Production in India
India: Daikin Industries has invested INR 1,400 crore (USD 165 million) into its Indian subsidiary, marking its largest capital infusion in the country to date. The investment, executed in two phases—INR 600 crore (USD 70 million) in June and INR 800 crore (USD 95 million) in August, aims to enhance local production of air-conditioning units and components. Regulatory filings by Daikin Air Conditioning India with the Registrar of Companies indicate that this capital boost will support the expansion of its operations, including the second phase of its plant at Sri City, Andhra Pradesh, and help reduce interest costs. Daikin also plans to increase localisation of its air conditioners from 75% to nearly 90%, aligning with India's production-linked incentive (PLI) scheme for air conditioners.
Source: Business Standard