French-headquartered automation and energy solutions major Schneider Electric’s India operations is now as big as its business in the parent country after the acquisition of Larsen & Toubro’s electric and automation division and the company plans to scale it up with a push on exports, a top executive told ET.
As a part of its strategy to expand its presence in India, Schneider Electric announced a Rs 14,000 crore deal to acquire L&T’s E&A division. The acquisition was concluded in August and the global major is now working on a ‘100-day plan’ to merge the company. With the acquisition, India has become the third largest business for the group, at par with France, and behind US and China.
“We have a very strong team, which includes our innovation, research and development team which are working in India for India. We have a very strong supply chain meeting the needs of India.