Union Commerce and Industry Minister Piyush GoyalNew Delhi: Commerce and industry minister Piyush Goyal on Thursday stated that no discussions have taken place regarding investments by Elon Musk-owned Tesla and Starlink.
Addressing a press conference in the capital, Goyal clarified that as both issues are handled by different ministries, he had no personal knowledge of any developments. "We haven't had any discussions to the best of my knowledge," the minister said in response to a query about potential investments by Tesla and Starlink. Goyal further explained, "Both these subjects are handled by different ministries. The Heavy Industries Ministry oversees automobiles, and Starlink will be managed by the Space Department. So, I don't have personal knowledge of what is happening."
In April, Musk had canceled a much-anticipated visit to India, including a scheduled meeting with Prime Minister Narendra Modi, citing "very heavy Tesla obligations." It was widely expected that Musk would announce plans to establish Tesla's manufacturing unit in India, along with billions of dollars in investments and a strategy for launching Tesla electric cars in the Indian market at the earliest.
Apart from electric vehicles, Musk was also reportedly exploring the Indian market for his satellite internet business, Starlink. Starlink will need to comply with all regulatory norms to obtain a license for operating in India. Union Telecom Minister Jyotiraditya Scindia recently stated that Starlink is in the process of completing the necessary requirements and will be granted a license once these are fulfilled.
Additionally, in March this year, the govt approved an electric vehicle (EV) policy providing import duty concessions for companies setting up manufacturing units in India with a minimum investment of USD 500 million. Under the policy, companies establishing manufacturing facilities for EV passenger cars will be allowed to import a limited number of vehicles at a reduced customs duty of 15% on cars costing USD 35,000 or more. This concession will be valid for five years from the date of issuance of the approval letter by the govt.
