New Delhi, May 8
Commerce and Industry Minister Piyush Goyal on Friday met senior officials from the French beauty and personal care major L'Oréal Groupe and discussed strengthening sourcing, manufacturing, and exports from the country.
"Held a meeting with a delegation led by Vismay Sharma, President-South Asia Pacific, Middle East and North Africa Zone, at @LOrealGroupe. Discussions focused on strengthening sourcing, manufacturing, and exports from India," Goyal posted on X social media platform.
The minister further stated that "given that L'Oréal launched the world's largest Beauty Tech Global Capacity Centre in Hyderabad recently, explored avenues to unlock greater opportunities for India's beauty and personal care sector".
In January this year, the French cosmetics giant announced to set up a beauty tech and innovation hub in Hyderabad with an initial investment of about $383.4 million. It aims to be a global base for AI‑driven beauty innovation and create 2,000 tech jobs through 2030.
The bilateral trade between India and France have remained steady between 9.17-12.50 billion euros range in five years, ending FY 2024-2025. The total trade for FY 2024-2025 was 12.67 billion euros, with exports from India at nearly 6.67 billion euros.
The new centre will function as a global innovation and capability hub, supporting the company's technology, data, digital, and supply chain functions worldwide.
It is expected to play a key role in accelerating L'Oréal's AI, analytics, and digital transformation initiatives across markets.
On Thursday, Goyal chaired a brainstorming session along with officials of the Department of Commerce (DoC) and Department for Promotion of Industry and Internal Trade (DPIIT), to explore measures to enhance global exposure for Indian businesses.
According to the minister, discussions focused on boosting exports and investments, unlocking opportunities for aspiring exporters, and tapping new global markets.
India's total exports of merchandise and services increased by 4.6 per cent to a record high of $863.11 billion during the financial year 2025-26, compared with the corresponding figure of $825.26 billion for the previous fiscal year, despite the US tariff turmoil and uncertainties triggered by geopolitical tensions, the latest figures compiled by the Commerce Ministry showed.
- IANS
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