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What is the purpose of Elon Musk’s visit?
Elon Musk is coming on his first visit to India. He will also meet PM Modi. He wants to start the work of his two companies, electric car maker Tesla and satellite internet company Starlink, in India. There are speculations that Musk may talk about an investment of 2 to 3 billion dollars in India.
How did the new EV policy clear the way for Musk?
The import tax on EVs in India was 100 percent. Musk wanted a concession in this. Government of India approved EV policy. Tax reduced from 100 to 15 percent provided the company invests at least 500 million dollars in India and sets up a manufacturing unit. This cleared the way for Musk. Now many states of the country are waiting for Musk’s unit.
What will change for India with the arrival of Tesla?
Tata, MG Motors, Mahindra are mainly electric car companies in India. EV segment is only two percent in passenger vehicle sales. India wants to strengthen its manufacturing market. If Tesla sets up the unit, the Make in India project will gain wings. Tesla has made a deal with Tata Electronics that it will take semiconductor chips from it for its worldwide operations, which means Tesla is also interested in having a supply chain in India. Tesla will make Model 2 cars in India. Its price can be around Rs 25 lakh. Competition will increase for companies already making e-cars in India. People will get more options.
What benefit will Tesla get from coming to India?
There has been a decline in Tesla’s sales. Annual earnings have also declined in the last two years. The reason for this is that it is facing tough competition from Chinese and European companies. If Tesla comes to India, it will get a new consumer base.
What were the problems for Starlink?
Starlink is also dreaming of entering the Indian SATCom market by 2022 but legal hurdles have come up. The Government of India has removed some obstacles by passing the Telecom Act in 2023. Now the government has said that the way has been cleared for granting license to Starlink. Only the approval of the Home Ministry is pending. Starlink’s entry in India is almost certain. With this, people will get satellite based internet.
What might the possibilities be for SpaceX?
Space Indian Space Policy came in 2023. The government has also simplified FDI rules in this sector. In such a situation, there is no major obstacle in the way of SpaceX’s entry in India.
2024-04-18 00:10:59
New Delhi: Tech tycoon Elon Musk is going to visit India on 21 and 22 April. It is believed that he will announce some big investments. Why is his visit important and what will change in India through it, let us see:
Elon Musk is coming on his first visit to India. He will also meet PM Modi. He wants to start the work of his two companies, electric car maker Tesla and satellite internet company Starlink, in India. There are speculations that Musk may talk about an investment of 2 to 3 billion dollars in India.
The import tax on EVs in India was 100 percent. Musk wanted a concession in this. Government of India approved EV policy. Tax reduced from 100 to 15 percent provided the company invests at least 500 million dollars in India and sets up a manufacturing unit. This cleared the way for Musk. Now many states of the country are waiting for Musk’s unit.
Tata, MG Motors, Mahindra are mainly electric car companies in India. EV segment is only two percent in passenger vehicle sales. India wants to strengthen its manufacturing market. If Tesla sets up the unit, the Make in India project will gain wings. Tesla has made a deal with Tata Electronics that it will take semiconductor chips from it for its worldwide operations, which means Tesla is also interested in having a supply chain in India. Tesla will make Model 2 cars in India. Its price can be around Rs 25 lakh. Competition will increase for companies already making e-cars in India. People will get more options.
There has been a decline in Tesla’s sales. Annual earnings have also declined in the last two years. The reason for this is that it is facing tough competition from Chinese and European companies. If Tesla comes to India, it will get a new consumer base.
Starlink is also dreaming of entering the Indian SATCom market by 2022 but legal hurdles have come up. The Government of India has removed some obstacles by passing the Telecom Act in 2023. Now the government has said that the way has been cleared for granting license to Starlink. Only the approval of the Home Ministry is pending. Starlink’s entry in India is almost certain. With this, people will get satellite based internet.
Space Indian Space Policy came in 2023. The government has also simplified FDI rules in this sector. In such a situation, there is no major obstacle in the way of SpaceX’s entry in India.