Schneider Electric to take full ownership of India unit

Schneider Electric has announced it will acquire the remaining 35 per cent stake in its Indian joint venture from Temasek for €5.5 billion (approximately USD 6.4 billion), aiming for complete control of its operations in India.

The deal will give Schneider Electric full ownership of Schneider Electric India Private Limited (SEIPL). The company expects the move to accelerate local decision-making in what it calls its third-largest market. Schneider said the transaction aligns with its strategy to deepen investment in India as a key domestic market and a central part of its global multi-hub model.

The agreement, structured as an all-cash transaction, is subject to regulatory approvals, including clearance from the Competition Commission of India. Closure is expected over the next few quarters.

Schneider Electric acquired a 65 per cent stake in SEIPL in 2020 through a joint deal with Temasek to purchase the Electrical and Automation business of Larsen & Toubro. That transaction remains the company’s largest in India to date. Temasek’s involvement included both the initial acquisition and post-closing integration of the business.

India has since become a core market for Schneider, delivering consistent revenue and margin growth. In 2024, SEIPL reported statutory revenues of €1.8 billion. Total sales across Schneider’s operations in India stood at €2.5 billion. The group currently operates 31 manufacturing facilities and an equal number of distribution centres in the country.

Schneider has indicated plans to expand its manufacturing capacity in India by up to three times. It also projects double-digit compound annual growth in organic sales from its India operations.

Following the original acquisition, Schneider adopted a dual-brand strategy in India, with the L&T E&A business now operating under the Lauritz Knudsen name.