How to translate countries in multilingual site? I have used country_get_list() function to render all pre-installed countries in my select list. 

When my site is in English, it is showing all country names in English, which is fine. But for French site, I want all country names should get translated in french.

For example: in English a country name is India but in the French site, it should display like Inde.

Is this possible to achieve?
Make sure you have the translated country strings in your database, ready to be used.
country_get_list() calls _country_get_predefined_list(), and inside this function country names are passed through t(). So, if you have country strings translated in your database, translation should work.