Schneider Electric, the French multinational specialising in energy management and automation, has announced its decision to acquire the remaining 35% stake in its Indian joint venture from Singapore’s Temasek Holdings. The all-cash deal is valued at €5.5 billion (around $6.4 billion). With this transaction, Schneider Electric will gain complete ownership of Schneider Electric India Private Limited (SEIPL), marking a major move in the company’s business in India.
This acquisition comes after the two companies partnered in 2018 to acquire the Electrical and Automation business of Larsen & Toubro. After the deal, Schneider Electric held 65% of SEIPL, while Temasek held the remaining 35%. Since last year, Temasek was said to be considering an exit from the venture. Now, with the finalisation of this agreement, Schneider Electric will take full control of its Indian operations.
India plays an important role in Schneider Electric’s global business plans. The company has identified India as one of its four main hubs in the world. With complete ownership of SEIPL, Schneider Electric aims to speed up decisions and strengthen its presence in the region. The company plans to build a platform for research and development and strengthen its supply chain to support its work across Asia-Pacific and other fast-growing markets.
Olivier Blum, CEO of Schneider Electric, stated that India is a core focus for the company’s future. He highlighted that the deal offers a good opportunity to grow further in the Indian market and use local talent in R&D, digital operations, and supply chain management to support business beyond India.
SEIPL reported statutory revenue of €1.8 billion in 2024. The total revenue from Schneider Electric’s operations in India, including all subsidiaries, reached €2.5 billion. The company expects continued double-digit growth in India in the coming years. Schneider Electric also plans to expand its production capacity in the country by nearly three times and contribute to national programmes such as “Make in India” and “Digital India.”
The completion of the deal is subject to regulatory approvals, including from the Competition Commission of India. Reports suggest that the acquisition will be finalised in the next few quarters.
This move by Schneider Electric highlights the growing importance of India in global industrial strategies. With full control of SEIPL, the company is expected to strengthen its base in India and use it as a platform for broader growth across neighbouring regions.
