PM Modi responds to Elon Musk's interest in investing in India
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Prime Minister Narendra Modi highlighted India's promising business environment in response to Elon Musk's recent congratulatory message.
The tech billionaire had praised PM Modi on his re-election for a historic third term, expressing his companies' intentions to invest in India soon.
In his reply, PM Modi acknowledged Musk's congratulations and emphasized India's strengths. "Appreciate your greetings @elonmusk," PM Modi said. "The talented Indian youth, our demography, predictable policies, and stable democratic polity will continue to provide the business environment for all our partners."
Elon Musk, CEO of SpaceX and Tesla, had originally planned to visit India on April 21 and 22 to meet with PM Modi but postponed the trip due to pressing Tesla commitments. He expressed hope to visit India later this year.
During a meeting with PM Modi in the US in June 2023, Musk conveyed his confidence in Tesla's imminent entry into the Indian market, along with Starlink, his satellite internet venture.
Tesla is anticipated to establish a manufacturing unit in India and make substantial investments. In 2023, Tesla requested the Indian government to reduce import duties on its vehicles to facilitate market entry.