How to change the name of application in Launcher in android according to the language selected in Settings of Phone?

How to change the name of the applications on that screen which appears on clicking Launcher Icon on Home Screen in Android according to the language selected in Settings(Settings->Language & Keyboard) of Phone? In other words, if we make application "Abhishek" & select "French" language in Settings of phone, then name of the application on that screen should display in french. Thanks in advance for help.