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Elon Musk Delays India Visit and Meeting with PM Modi

  • Posted on April 20, 2024
  • News
  • By TSW NEWS DESK
  • 107 Views

Elon Musk has postponed his much-anticipated trip to India, where he was expected to meet PM Modi and announce major investments for Tesla and Starlink, according to a Reuters report.

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The world-famous billionaire Elon Musk has put his Indian journey on hold, including meeting with Prime Minister Narendra Modi, according to a Reuters report citing three people familiar with the matter.

The Chairman of Tesla and SpaceX was due to visit India for two days nearly this week, during which time he was supposed to meet PM Modi in New Delhi on Wednesday. Musk was asked about the forthcoming meeting at the X (formerly Twitter) last week, and he replied that he was "all set to meet" the Indian Prime Minister.

While both Tesla and the Prime Minister's Office have yet to make a formal announcement on the presumed postponement of Musk's India visit, the situation is unclear.

The main event of Musk's trip was expected to be a grand announcement about a $2-3 billion investment that Tesla was going to make in manufacturing its vehicles in India. He discussed with PM Modi during his recent US visit that he intends to start a plant in India.

An Indian government recently rolled out an electric vehicle policy for the import duty exemption of corporations that establish manufacturing units in the country and a minimum five hundred million dollar investment.

Along with his ambitions to roll out his electric vehicle project in the country, Musk might also be looking at ways to manage his Starlink satellite internet services in India. Newspapers say Starlink's operation will begin in Q3 2024 after recent space sector reforms and openings in terms of FDI.

Also Read: Warren Buffett’s Total $6 Billion Dividend Yield In The 2024 Financials From Only 3 Funds

The scheduled visit by Musk was viewed in many circles as a possible catalyst for India-U.S. cooperation in sectors like manufacturing, technology, and space. The trip has been rescheduled, yet not a new date has been announced.

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