Commerce and Industry Minister Piyush Goyal recently met with senior officials from French luxury goods giant LVMH Moet Hennessy Louis Vuitton SE to explore opportunities for strengthening manufacturing in India. The discussions, held in the national capital, focused on enhancing manufacturing capabilities in India to boost exports, investing in local talent, promoting Indian culture through collaborations, and fostering balanced trade partnerships. Last year, L Catterton, a private equity firm affiliated with LVMH, revealed plans to raise $600 million for its inaugural India-focused fund.
During the same period, Minister Goyal also engaged with executives from French beauty and personal care leader L’Oréal Groupe to deliberate on enhancing sourcing, manufacturing, and exports from India. The meeting, led by Vismay Sharma, President–South Asia Pacific, Middle East, and North Africa Zone at L’Oréal, emphasized strengthening various aspects of operations in the country. Notably, L’Oréal recently inaugurated the world’s largest Beauty Tech Global Capacity Centre in Hyderabad, signaling a commitment to driving innovation in the beauty and personal care sector in India.
Furthermore, in January this year, L’Oréal announced plans to establish a beauty tech and innovation hub in Hyderabad with an initial investment of around $383.4 million. This initiative aims to serve as a global hub for AI-driven beauty innovation and is projected to generate 2,000 technology-related jobs by 2030. Over the past five years, bilateral trade between India and France has maintained a consistent range of 9.17–12.50 billion euros, with the total trade for the fiscal year 2024-2025 amounting to 12.67 billion euros, including Indian exports valued at nearly 6.67 billion euros.
