As tech giant Elon Musk prepares for his
visit to Bharat, the spotlight is on his various ventures eyeing opportunities
in the country’s burgeoning market. Tesla, the electric car manufacturer, is
reportedly exploring factory locations amid a sales downturn in the US.
Meanwhile, Starlink, Musk’s satellite internet venture, is set to receive
initial approvals for operations in Bharat.
Additionally, Musk’s attention may turn
to X, the social media platform he acquired in 2022, amidst concerns over
content takedown orders from the Indian Government. Musk’s eagerness to engage
with Prime Minister Narendra Modi has been evident, with reports suggesting a
meeting is on the agenda during his visit.
“Looking forward to meeting with Prime Minister Narendra Modi in Bharat,” Musk wrote on X last week without giving a date for the visit. Reports indicates the two-day tour will begin on Sunday. PM Modi and Elon Musk met last June in New York, after which the tech giant said the Indian Premeir had pushed the entrepreneur to “make significant investments in Bharat”, something he said his companies intended to do.
Tesla is currently battling increased Chinese competition and a demand slump in the United States, with reports claiming the company plans to slash its workforce.
Musk, who has described himself as a PM Modi fan, mentioned Bharat “has more promise than any large country in the world”. However, challenges remain, including Bharat’s steep import taxes on
electric vehicles, hindering Tesla’s entry without local manufacturing.
Despite the hurdles, recent regulatory
changes signal Bharat’s intent to attract foreign investment, particularly in
the electric vehicle sector. The relaxation of import taxes and incentives for
global automakers committing to local production aims to stimulate growth in
the industry.
While Tesla may face initial challenges
due to the high price tag of its vehicles, experts foresee a growing demand for
electric vehicles in India as disposable incomes rise and production costs
decline. With projections indicating a significant increase in electric vehicle
sales by 2030, Musk’s visit highlights the strategic importance of Bharat in
his business expansion plans.
