Elon Musk's India visit postponed
After this period of retrenchment, his visit to India was considered very important. At the same time, PM Modi is also very busy due to the rallies going on in the country during the Lok Sabha elections.
Everyone was eagerly waiting for the visit of Elon Musk, owner of companies like Tesla and X, to India, but Musk's visit is getting delayed. His India tour has been postponed. He said on X that his trip to India is getting delayed due to Tesla's work responsibilities but he is very eager to come here by the end of this year. Earlier there was news that Musk is visiting India next week and will meet PM Narendra Modi. It became clear from Musk's post that he would not come to India at present.
Tesla Inc. has recently laid off employees on a large scale. After this period of retrenchment, his visit to India was considered very important. At the same time, PM Modi is also very busy due to the rallies going on in the country during the Lok Sabha elections. Musk's meeting with PM Modi was to be held early next week. But now his India tour has been postponed. Giving permission to Starlink in India is no less than a reward for Elon Musk. Given China's resistance, India will emerge as a big market for American companies.
The presence of Tesla cars on the roads of Delhi and Mumbai will establish PM Modi as a leader who will bring huge foreign investment in India. With this, the cities of the country will become modern like the global metropolis and jobs will also be created. "This reflects the growing interest of foreign investors in India," said Sonal Verma, chief economist for India and Asia (ex-Japan) at Nomura Holdings Inc. He said, "This is not just because of supply chain diversification from China for export purposes, but to take advantage of India's growing domestic demand." Elon Musk's visit to India is likely to be successful in both cases.
The government has already assured Starlink that the company will be able to start its operations in the country by the third quarter of this year. According to experts in the matter, this will end Musk's years-long standoff with the Modi government. This will help Starlink to get closer to its two domestic rivals.
India's communications ministry did not respond to an email seeking comment. Starlink also did not immediately respond to a request for comment. Let us tell you that India investment will give Musk an opportunity to enter the rapidly growing electric vehicle market. This will also help in equalizing the slow demand elsewhere.
Musk has been saying that Tesla has been trying to enter India for years, but high import tax has become a major obstacle. India last month reduced import taxes on EVs from foreign carmakers, pledged to invest about 41.5 billion rupees ($497 million) and start EV production from local factories within three years.