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Schneider Electric to Acquire Remaining Stake in Indian Joint Venture for €5.5 Billion
French energy and automation giant Schneider Electric has announced its intention to acquire the remaining 35% stake held by Singapore-based Temasek in their Indian joint venture, Schneider Electric India Pvt Ltd (SEIPL), for €5.5 billion (approximately ₹55,465 crore). This acquisition is expected to be completed in the coming quarters, pending approval from the Competition Commission of India.
The company considers India a critical part of its global operations, not just as a growing domestic market but also as a major hub for research and development (R&D) and supply chain operations for India, other emerging markets, and beyond. With full ownership of SEIPL, Schneider Electric will become the sole owner of the Indian joint venture, marking a significant milestone in its expansion plans in the country.
Schneider Electric’s decision to acquire full ownership of SEIPL is driven by the need for faster decision-making in what is currently its third-largest market. The company believes that this move will enable it to respond more quickly to the evolving needs of its customers and capitalize on the significant growth potential of the Indian market.
India has emerged as one of the fastest-growing major economies in the world, with a growing middle class and a rapidly expanding consumer base. The country’s IT-BPO industry is expected to continue its rapid growth trajectory, driven by the increasing demand for digital transformation solutions and outsourcing services. Schneider Electric sees significant opportunities for growth in this sector and aims to establish itself as a leading player in the Indian market.
The company plans to set up a large manufacturing facility in Tamil Nadu, covering an area of 500,000 square feet. The new plant will manufacture and trade various electronic components, including Battery Management Products (BMS), Uninterruptible Power Supply (UPS) systems, Power Distribution Units (PDU), cooling systems, and other products.
The facility will be developed in two phases, with the first phase featuring a dust-free production area, modern office space, advanced fire safety systems, and a power-boosted infrastructure to support an initial workforce of 1,500 employees. The second phase will involve constructing a custom facility tailored to Schneider Electric’s technical and operational needs.
The project has been backed by Blackstone Real Estate funds and is seen as a significant investment in India’s manufacturing sector. The location of the plant along the Bangalore–Chennai National Highway provides direct connectivity to key southern markets, enhancing logistics and operational efficiency.
Schneider Electric’s expansion plans in India are part of its broader strategy to strengthen its global operations. The company has been investing heavily in research and development (R&D) in emerging markets, including India, to develop innovative solutions that meet the evolving needs of its customers.
The acquisition is also seen as a strategic move by Temasek, which has been investing in Indian companies over the years. The Singapore-based fund manager has a significant presence in India, with several investments across various sectors, including technology, healthcare, and consumer goods.
With full ownership of SEIPL, Schneider Electric will be able to respond more quickly to market trends and capitalize on opportunities for growth. The company’s plans to set up the large manufacturing facility in Tamil Nadu are also seen as a major investment in India’s manufacturing sector, expected to create jobs and stimulate economic growth both directly and indirectly.
The acquisition highlights the importance of partnerships and collaborations between international companies and local businesses. Temasek’s investment in SEIPL was a strategic move that enabled the company to tap into India’s growing economy and expand its presence in the country.
As Schneider Electric looks to build on its success in India, it will be important for the company to maintain strong relationships with local partners and stakeholders. By doing so, Schneider Electric can ensure that its growth plans are supported by a network of trusted partners who share its values and vision.
The acquisition is expected to create new opportunities for the Indian IT-BPO industry, which is expected to continue its rapid growth trajectory in the coming years. With Schneider Electric’s investment in this sector, the company is well-positioned to capitalize on the significant growth potential of India’s IT-BPO industry.
Schneider Electric’s decision to acquire full ownership of SEIPL reflects the company’s commitment to growth and expansion in India. The acquisition is seen as a major development that will enable Schneider Electric to respond more quickly to market trends and capitalize on opportunities for growth in what is one of its fastest-growing markets.