Schneider Electric, a provider of electrical equipment and infrastructure solutions, has agreed to acquire the remaining 35 percent stake in its Indian joint venture from Temasek for EUR 5.5 billion (USD 6.4 billion) in cash. The transaction will give Schneider Electric full ownership of Schneider Electric India.
The company stated that the move will help accelerate decision-making in India, its third-largest market. India is one of four global hubs for Schneider Electric, which operates 31 factories and 31 distribution centres across the country.
In 2020, Schneider Electric had acquired a 65 percent stake in the joint venture from Indian infrastructure company Larsen & Toubro (L&T), marking its largest investment in the country at the time.
Schneider Electric aims to expand its production capacity in India by 2.5 to 3 times and is targeting double-digit compound annual growth in organic sales for its Indian operations. In 2024, the Indian unit generated EUR 2.5 billion in sales, contributing approximately 7 percent to the company’s global revenue.
Headquartered in France, Schneider Electric provides electrical equipment and infrastructure solutions, including systems for data centres.
