Prime Minister Narendra Modi said he welcomes investment from across the globe, but work, including manufacturing, must be done by the people of India and the products should have the essence of the country’s soil.
Responding to a question on Elon Musk’s Tesla and Starlink’s possible entry in India during an interview with ANI, the Prime Minister said, “I want investment in India. Paisa kisi ka bhi laga ho, paseena mere desh ka lagna chahiye, uske andar sugandh mere desh ki mitti ki aani chahiye, taaki mere desh ke naujawan ko rozgar mile (Whoever wishes to invest can, but it must be built by Indians so that the youth of my country get employment)” PM Modi said.
When the Prime Minister was asked about Musk publicly saying the latter being his fan, he said: “Elon Musk being a supporter of Modi is one thing, basically, he is a supporter of India. And I just met him. It’s not like that.”
As per a recent post shared on X last week by Musk, the Tesla chief is set to meet PM Modi in India later this month.
Though the final agenda of Musk’s trip to India is yet to be confirmed, it is widely expected he may unveil a big-ticket investment plan in India.
PM Modi also recalled about his visit to Musk’s factory in 2015. The Prime Minister said Musk cancelled his pre-scheduled commitment and met him.
“He showed me everything in his factory. And I understood his vision from him. I went there just now (to the US in 2023) and met him again. And now he is about to come to India,” PM Modi said.
Earlier this month, had said India, like every other country, should have EVs and it will be a natural progression for his company to provide Tesla electric vehicles in India.
“India is now the most populous country in the world, based on population. India should have electric cars just like every other country has electric cars. It’s a natural progression to provide Tesla electric vehicles in India,” Musk had said in an X Spaces session with Nicolai Tangen, the Chief Executive Officer at Norges Bank Investment Management.
Elon Musk will be visiting India later this month, along with his team. Although there has been no clear indication as to the reason behind his visit, other than meeting PM Modi, industry insiders believe it should be safe to assume that Musk will be a part of the team that finalises the location for Tesla’s Indian factory.
During his visit, he is also expected to officially announce potential investments by Tesla in the EV manufacturing industry in India. Experts suggest that it will range from $2-3 billion.
The Government of India has made some policy changes recently, including reduced import duties for EVs priced over $35,000. This has incentivised global automakers like India to establish manufacturing plants in India.
Tesla setting up a factory in India is not just based on India’s potential as an EV market but is also because of a need to diversify its sourcing options beyond China for critical components..
While the company manufactures some electric components internally, it relies on global suppliers for sub-assemblies and other parts.
In other news, Tesla is reported to have signed a partnership with the Tata Group, under which they will be procuring semiconductors for their EV operations globally.
With inputs from ANI
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‘Want investment in India, Paisa kisi ka bhi laga ho’: PM Modi on Elon Musk’s India plans
