Schneider Electric to buy remaining stake in India business for $6.4 billion

India is now Schneider’s third-largest market and one of its four global hubs, with 31 factories there and as many distribution centres
| Photo Credit:
BENOIT TESSIER

Schneider Electric announced Tuesday it will acquire the remaining 35 per cent stake in Schneider Electric India Private Limited from Singapore’s Temasek for €5.5 billion in cash, giving the French industrial technology company full ownership of its Indian operations.

The transaction, subject to regulatory approvals including from Competition Commission, is expected to close in the coming quarters.

The deal represents Schneider Electric’s strategic focus on India as both a key domestic market and manufacturing hub for Asia Pacific and emerging markets.

India has become Schneider Electric’s third-largest market and one of its four global hubs. The Indian unit recorded statutory revenues of €1.8 billion in 2024, while total sales across all subsidiaries in India reached €2.5 billion. The company expects double-digit compound annual growth rates for its Indian operations in coming years.

The acquisition builds on Schneider Electric’s 2018 partnership with Temasek to jointly purchase Larsen and Toubro’s Electrical and Automation business, which was subsequently rebranded as Lauritz Knudsen. The transaction closed in August 2020.

Schneider Electric plans to expand its Indian manufacturing capacity by 2.5 to 3 times to support government initiatives including “Digital India” and “Make in India.” The company has maintained operations in India for over 60 years and employs significant research and development capabilities in the country.

Published on July 30, 2025