Many a time, the 18th century History of India is stated to be the History of the Maratha power. But very little justice has been done to this statement. The relationship between the French and the Marathas was one of the most striking features of the 17th and 18th centuries. Hence, it is imperative to carry out research on this relationship. It is indeed a coincidence that the careers of the two nations in India, i.e., the Marathas and the French ran concurrently. At the very moment, the French thought of establishing in India and the Marathas also started to carve out an independent state for themselves. In the light of the new material available and the existing primary sources, the relations can be restudied and rewritten by giving due importance to the diplomatic projects, economic aspects of the relations, the American war of Independence, the French revolution, the transformation of Maratha kingdom into a confederacy, the role played by the private merchants and traders on the Malabar coast, French freelancers, the Maratha aristocrats and the external relations of the Maratha power with indigenous powers in connection to the French power. The relations between the two were purely commercial on the side of the French, and politically and commercially motivated on the part of the Marathas.