Breaking News: Elon Musk Set to Meet PM Modi.!
Elon Musk's anticipated visit to india in april has sparked speculation about potential investments and the establishment of a new tesla plant. Reports suggest that Musk, the world's wealthiest individual, is scheduled to meet with prime minister Narendra Modi during the week starting from april 22. While details remain confidential, sources indicate that Musk and Modi will separately disclose their investment plans for India.
Musk's interest in india data-aligns with the country's new EV policy, which offers incentives to companies investing in local production. The policy grants exemptions and benefits, such as a 15% customs duty waiver for five years, to companies investing over $500 million in production within India. Additionally, there are requirements to utilize a certain percentage of parts made in india over specific timeframes, aimed at fostering domestic manufacturing and generating employment opportunities.
The impending visit of Musk to india underscores the country's growing significance in the global electric vehicle market and reflects the government's proactive measures to attract investments and promote domestic manufacturing in data-alignment with its EV policy.
Musk's interest in india data-aligns with the country's new EV policy, which offers incentives to companies investing in local production. The policy grants exemptions and benefits, such as a 15% customs duty waiver for five years, to companies investing over $500 million in production within India. Additionally, there are requirements to utilize a certain percentage of parts made in india over specific timeframes, aimed at fostering domestic manufacturing and generating employment opportunities.
The impending visit of Musk to india underscores the country's growing significance in the global electric vehicle market and reflects the government's proactive measures to attract investments and promote domestic manufacturing in data-alignment with its EV policy.