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MENAFN- Live Mint) "The American tech billionaire Elon Musk delayed his visit to India citing“very heavy Tesla obligations,” eliciting reactions from the internet in response to this announcement wrote on X in response to a post, which stated that his India visit planned for April 21-22 has been postponed as the reason could be that he needs to attend Tesla's earnings call on April 23.“Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year,” Musk replied.A user, Mohamed Tawfik said,“No rush, we'll hold off all our chai and samosa plans until you touch down. Looking forward to it, Elon!”Another user sent positive vibes Musk's way, while others expressed gratitude for the update. One commenter speculated,“He is waiting for election results.”Netizens reacted to Musk's statement, expressing happiness that he's not pushing himself too hard with consecutive endeavours. Rosy stated,“We are eagerly anticipating the launch of Tesla in India.”
“Best of luck with Tesla, Elon. You're professional and this has to be recognized. Have a good weekend and week,” another user commented.“Also maybe not the best time to visit while the country is at the polls,” remarked another user.“Perhaps it's better to wait until after the swearing-in ceremony of the New PM,” suggested user Dhivya Marunthiah.“Hey, are you still sleeping on the floor? Take care of yourself,” another user inquired's on the agenda?During Modi's visit to the US in June last year, Musk met with him and mentioned his intention to visit India in 2024, expressing optimism about Tesla's entry into the Indian market planned visit sparked anticipation that he might unveil plans for Tesla to establish a presence in the country, along with his satellite communication venture, Starlink, expectations were high that Musk would reveal plans for Tesla to establish its manufacturing unit in India, potentially involving investments of billions of dollars, and discuss the roadmap for the prompt introduction of Tesla electric cars in the Indian market Read: Tesla's Elon Musk likely to unveil ₹3 billion India investment during visitAdditionally, he was likely to explore opportunities for his satellite internet business, Starlink, in India, pending regulatory approvals had in the past called for import duty reduction in India for it to be able to sell Tesla cars in the country's planned visit to India comes on the heels of the government's recent announcement of a new electric vehicle policy. This policy includes import duty concessions for companies establishing manufacturing units in India with a minimum investment of USD 500 million, a move aimed at attracting major global players like Tesla is the Centre's new electric vehicle policy?Under the policy, companies establishing manufacturing facilities for electric vehicle (EV) passenger cars will be permitted to import a limited number of cars at a reduced customs/import duty of 15 per cent for vehicles costing USD 35,000 and above concession will be applicable for five years from the date of issuance of the approval letter by the government, cars imported as completely built units (CBUs) are subject to customs duty ranging from 70 per cent to 100 per cent, depending on factors such as engine size and the cost, insurance, and freight (CIF) value, PTI reported Read: EV Policy to intensify competition in Passenger Vehicle segment, auto component makers key beneficiaries, say analystsLast year, Tesla approached the Indian government seeking duty cuts to import its vehicles in India 2022, Musk said that Tesla, which was earlier seeking a reduction in import duties to sell its vehicles in India, would not manufacture its products unless it is allowed to first sell and service its cars in the country's satellite communication venture faced controversy in 2021 when it began accepting pre-orders without proper licensing. This led the government to clarify that Starlink was not authorised to offer satellite-based internet services in India Read: Starlink's services in India set to face delaysThe telecom department cautioned the public against subscribing to the services being advertised by the Musk-backed company, in November 2022, Starlink applied for a GMPCS (Global Mobile Personal Communication by Satellite) license this week, PTI reported citing sources in the Department of Telecom that the licence application of Starlink is under process, and the government is examining the security aspects.(With inputs from agencies)
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