French car parts manufacturer Valeo said it would invest $236.7 million (mn) to expand its sales and operations in India, a move announced during visits associated with the state visit by French President Emmanuel Macron. The company added that it plans to deploy more than 200 mn euros to increase its footprint and aims to treble its sales in India to around 700 mn euros by 2028. The announcement was framed as part of a broader push by French firms to secure new deals and deepen commercial ties with Indian partners.

Valeo said it would focus on developing strong competencies in new-technology products in India and progressively increase localisation across manufacturing and operations to meet domestic demand in both the passenger vehicle and small mobility segments. The company indicated that it will significantly expand its engineering centres and industrial footprint in the country as part of the investment plan. Senior management described India as a strategic pillar of Valeo's global growth and innovation roadmap.

The group also disclosed it had been selected to supply electric powertrains for a range of vehicles under the Born Electric passenger vehicle platform of Mahindra & Mahindra, with the strategic partnership carrying a total order value close to $1 billion (bn). Valeo said the contract would support its electrification strategy and help address the needs of local vehicle makers and mobility providers. The arrangement was presented as a major element of the group's India strategy.

Valeo, which has operated in India since 1997, currently employs more than 7,500 people in the country and said the new investments would support job creation and skill development. The disclosure cited the recent India–European Union agreement on tariff reductions as a favourable backdrop that could boost two-way trade and investment flows. The company reiterated its commitment to local manufacturing, engineering expansion and long-term engagement in the Indian market.