Tech billionaire Elon Musk is set to visit India as his businesses seek new markets in the world's most populous nation, with electric carmaker Tesla -- suffering a sales downturn in the United States -- reportedly scouting factory locations.
Indian media reports suggest Musk's trip will begin as soon as Sunday and last two days. Photo: Sergei GAPON / AFPTech billionaire Elon Musk is set to visit India as his businesses seek new markets in the world's most populous nation, with electric carmaker Tesla -- suffering a sales downturn in the United States -- reportedly scouting factory locations.
"Looking forward to meeting with Prime Minister Narendra Modi in India!" Musk wrote on X last week without giving a date for the visit. But India often struggles to attract foreign direct investment, even as multinational companies seek alternatives to China, and Musk's admiration has not yet translated into multibillion-dollar commitments.
The new policy allows companies to import up to 8,000 electric vehicles priced at $35,000 or higher every year with greatly reduced import duties of 15 percent. "Cars that are priced more than Rs 20 lakh have only a five percent market share in India," Soumen Mandal, senior analyst at market research firm Counterpoint, told AFP.
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