Ever since Donald Trump won the American elections. There is a tremendous rise in the shares of Elon Musk’s company. Along with this, the discussion about Elon Musk’s entry in India has also intensified. Before the elections, it was reported that Elon Musk may soon visit India and announce investment. Then things did not work out and he canceled his trip to India and went to China. Now once again information has come out from the government regarding his arrival in India.
Piyush Goyal said this
Commerce and Industry Minister Piyush Goyal has said that at present there has been no discussion regarding investment in India by American industrialist Elon Musk’s Tesla and Starlink. Addressing a press conference in the national capital, Goyal said that since both the issues are being handled by different ministries, he personally has no knowledge of what is happening. Responding to a question regarding possible investment by Tesla and Starlink, the minister said that as far as I know, we have not had any discussion.
This is the reason
Goyal said that both these subjects are handled by different ministries. The Ministry of Heavy Industries looks after the vehicle and Starlink will be handled by the Department of Space. So, I personally don’t know what’s going on. Earlier in April, Musk had backed out of his much-hyped visit to India, including a meeting with Prime Minister Narendra Modi, at the last minute, citing Tesla’s huge obligations.
What is Musk’s plan?
It was being speculated that he would announce Tesla’s plan to set up its manufacturing unit in India and invest billions of dollars, and also tell about the future of sales of Tesla electric cars (EVs) in India as soon as possible. Not just electric cars, he was also eyeing the Indian market for his satellite internet business unit Starlink.
Union Telecom Minister Jyotiraditya Scindia had said this month that Starlink will have to follow all the criteria to get a license for services in India. The minister had said that the satellite internet service provider is in the process of completing all the requirements and will get the license once the process is completed.