The award will be conferred on behalf of the President of the French Republic at a special ceremony later this year, Biocon said in Bengaluru in a statement.
"It is an absolute privilege for me to be appointed 'Chevalier l'Ordre National de la LAgion d'Honneur' and I am deeply grateful to the French government for this great honour.
"I owe this recognition to my wonderful team at Biocon who have joined me in my mission to harness the power of Biotechnology to provide affordable access to life saving bio pharmaceuticals for Cancer and Diabetes," she said.
The award is conferred by the President of the French Republic.
Other Indians to have received this honour in the past include Yashwant Sinha, Narayana Murthy, Amitabh Bachchan, Aishwarya Rai, Nandita Das, Shah Rukh Khan, veteran musician Balamuralikrishna and the late actor Sivaji Ganesan, are among others.