'Tesla Official Who Was Talking To Us Got Fired': DPIIT Secy On Auto Giant's Delayed Entry Into India

7/24/2024 3:34:58 PM

(MENAFN- Live Mint) Rajesh Kumar Singh, Secretary of the Department for Promotion of industry and Internal Trade (DPIIT), in an interaction with CNBC-TV18, addressed the delays regarding Tesla's entry into the Indian market. Singh stated, "We are the wrong person to be asked. Tesla representatives must answer this. The person talking to us got fired. We really do not know. We do not have much update on that."

Singh emphasized that India's policy framework is designed to create a level playing field for all companies wishing to enter the market. "Our view is that the policy out there is always meant to lay a level field for anyone who wanted to come under those terms. The detailed guidelines are worked upon by MHI, when they get notified. There will be more than one party globally. I am sure Tesla will come in," he said.

Singh also highlighted that India is not exclusively waiting for any single company. "We are open to all global companies who want to penetrate the Indian EV market where the EV share and passenger share is as low as 2 per cent," he remarked.

He pointed to the success of similar strategies in other sectors, citing the example of tire manufacturers like Michelin. "We have seen this strategy work, where we have brought intervention. Some cases have been witnessed where we had restrictions on tire product categories which were not allowed into India and the companies who manufacture their products abroad like Michelin essentially said that you relax those restrictions and we will put those product lines into India. That has already worked, as we already got ₹1100 crores of investment from foreign companies," Singh noted.

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Singh concluded by expressing confidence in the potential for investment in India's EV sector, even without a Production Linked Incentive (PLI) scheme. "Moreover, even without a PLI scheme, you can get an investment through your import policy and tariff measures. I am sure in the EV space also, the traction will come," he said.

Tesla's entry into India remains uncertain, with the ball now in the company's court to address the internal and external factors influencing their plans.

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