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Invest India

Denmark's energy major Danfoss to increase investments in India

Danish energy efficiency manufacturer Danfoss A/S' $3.3 billion global acquisition of power management company Eaton's hydraulics division is expected to conclude by the end of this year, said a top official of Danfoss India. Danfoss India will be investing Rs 25 crore (3.1 million euro) in expanding production here and targets to close 2020 with a turnover of Rs 2,000 crore (250 million euro). The 6.3 billion euro turnover Danfoss business segments are classified under power solutions, cooling, drives and heating and it supplies components and systems for original equipment manufacturers.

Government plans new law to protect foreign investment

India is planning a new law to safeguard foreign investment by speeding up dispute resolution, aiming to attract more capital from overseas to boost stuttering domestic growth, two officials with direct knowledge of the matter told Reuters. In a 40-page initial draft, India's finance ministry has proposed appointing a mediator and setting up fast-track courts to settle disputes between investors and the government. The draft proposal is aimed at diffusing investor mistrust around the sanctity of agreements, which has worsened recently.