Union Commerce and Industry Minister Piyush Goyal met Prince Albert II of Monaco and discussed expanding cooperation between India and Monaco in key sectors such as sustainability, the blue economy, innovation, and emerging technologies, while also highlighting India’s growing role as a global innovation hub.
In a post on X on Wednesday, Goyal said, “Called on HSH Prince Albert II of Monaco. We discussed expanding the India-Monaco partnership in sectors such as sustainability, the blue economy, innovation, and emerging technologies.”
Goyal also briefed the Monegasque leader about Bharat Innovates 2026, India’s flagship innovation and technology event being held in Nice, France. The event showcases India’s rapidly expanding innovation ecosystem and seeks to strengthen international partnerships in technology, research, and entrepreneurship.
Expressing optimism about the future of bilateral ties, Goyal said he was confident that India-Monaco relations would continue to reach new heights in the years ahead.
Bharat Innovates 2026 Showcases India-France Innovation Partnership
The Commerce Minister also addressed the closing ceremony of Bharat Innovates 2026, where he highlighted the growing strength of the India-France innovation partnership.
Speaking at the event, Goyal said the outcomes achieved during the three-day programme reflected the immense potential for collaboration between the two countries in areas such as technology, innovation, entrepreneurship, and sustainable development.
He credited the leadership of Prime Minister Narendra Modi and French President Emmanuel Macron for creating the foundation for deeper innovation cooperation through the India-France Year of Innovation 2026 initiative.
Goyal said the shared vision of the two leaders has helped transform bilateral innovation cooperation into a dynamic platform connecting governments, businesses, investors, startups, and researchers from both countries.
The minister also invited global business leaders, investors, entrepreneurs, and innovators to partner with India in building a sustainable and technology-driven future.
Focus on Fragrance Industry Collaboration
During his visit to France, Goyal also travelled to Grasse, widely regarded as the birthplace of the modern perfume industry, where he visited the historic Fragonard Factory, one of the country’s most renowned fragrance houses.
The visit provided insights into the rich heritage and craftsmanship that have shaped France’s perfume industry for generations.
Goyal interacted with representatives of the Grasse Institute of Perfumery and leading members of the French fragrance sector. He congratulated Fragonard ahead of its centenary celebrations in 2026 and acknowledged the milestone achieved by PRODAROM, the French association representing fragrance and flavour manufacturers, which completed 300 years in 2024.
The discussions focused on opportunities for deeper collaboration between India and France in luxury manufacturing, design, fragrances, and high-value trade.
The minister emphasized that combining France’s expertise in luxury products with India’s rich heritage, traditional knowledge systems, and skilled workforce could unlock significant opportunities for innovation and growth in the premium fragrance and luxury sectors.
UPI Expands Global Presence
As part of his engagements in France, Goyal also launched India’s Unified Payments Interface (UPI) at the iconic Galeries Lafayette Nice Masséna, marking another step in the international expansion of India’s digital payments ecosystem.
The launch is expected to facilitate easier digital transactions for Indian tourists and visitors while promoting the adoption of India’s globally recognized digital payment infrastructure.
The introduction of UPI in prominent international retail destinations reflects India’s growing digital influence and supports efforts to expand cross-border payment connectivity.
