Schneider Electric has announced the acquisition of the remaining 35 percent stake in its Indian joint venture, Schneider Electric India Private Limited (SEIPL), from Temasek Holdings for a total consideration of €5.5 billion in cash. With this transaction, Schneider Electric will assume full ownership of SEIPL, reinforcing its long-term commitment to India as a strategic growth market.
This move follows Schneider’s initial acquisition in 2020, when it secured a 65 percent stake in the joint venture after the acquisition of L&T’s Electrical and Automation business. The current buyout of Temasek’s remaining holding marks the final phase of Schneider’s full consolidation of its Indian operations.
Strengthening Position in India
India is one of the four global hubs for Schneider Electric. The company views this acquisition as critical to streamlining operations and decision-making across its Indian subsidiaries.
SEIPL recorded statutory revenues of €1.8 billion in 2024, while total revenues across Schneider’s Indian entities crossed €2.5 billion, accounting for roughly 7 percent of the group’s global sales.
With complete ownership, Schneider aims to significantly accelerate its investment and expansion strategy in India. The company has outlined plans to increase its local manufacturing capacity by 2.5 to 3 times and boost its research and development capabilities, aligning India with its broader strategy of positioning the country as a regional innovation and supply chain hub.
Multi-Year Partnership and Schneider Electric’s Trajectory in India
The joint venture was formed in 2018 when Schneider Electric and Temasek acquired L&T’s Electrical and Automation business. This transaction, at the time, was one of the largest M&A deals in India’s industrial sector.
The newly announced €5.5 billion deal now stands among the largest foreign investments in India’s energy and automation space for 2025.
The transaction remains subject to regulatory approvals, including clearance from the Competition Commission of India. The deal is expected to be completed within the next few quarters.
Temasek, the Singapore-based global investment firm, expressed satisfaction with its multi-year partnership and Schneider Electric’s trajectory in India. The company stated that it remains optimistic about India’s long-term industrial and digital growth story.
Schneider Electric projects double-digit compound annual growth in SEIPL’s revenues over the next several years. The company has reiterated its intention to deepen its presence in India, not just as a market but as a global base for innovation, engineering talent, and product development.
Leadership Comments
Olivier Blum, Chief Executive Officer of Schneider Electric, stated that the acquisition is a natural progression in the company’s India strategy. He emphasized that full ownership will enable Schneider to unlock the full growth potential of the Indian market.
“India continues to be one of our highest priority markets, not just for commercial growth but also for innovation, engineering, and global supply chain,” Blum said. “This acquisition allows us to fully align our Indian operations with our global objectives and respond faster to evolving local market needs.”
