SME Times is powered by   
Search News
Just in:   • Equity indices break two-day losing streak on value buying  • IMF urges Sri Lanka to tighten monetary policy  • Global semiconductor sales to reach $676 bn this year: Gartner  • Tinna Rubber hits upper circuit, investors accumulate 900% returns in year  • Availability of jobs in Japan improves for 1st time in 3 yrs 
Last updated: 26 Apr, 2022  

Gadkari.9.thmb.jpg Musk has to manufacture here to sell Tesla cars in India: Gadkari

Gadkari.9.jpg
   Top Stories
» Net direct tax collection reaches highest-ever figure in FY 22
» Musk has to manufacture here to sell Tesla cars in India: Gadkari
» Round tripping of industrial inputs by large players unfavourable to local value chains
» Sitharaman engages investors in Silicon Valley
» Modi hails India's success in achieving target of $400 billion of exports
SME Times News Bureau | 26 Apr, 2022
Elon Musk, who has just bought Twitter for $44 billion, will have to manufacture his Tesla cars in India, and not China, if he wants to come and sell the vehicles in the country, Union Road Transport and Highways Minister Nitin Gadkari said here on Tuesday.

Reiterating that Musk will not get any special treatment when it comes to customs duties, Gadkari said during the 'Raisina Dialogue 2022' that if Musk wants to manufacture in China and sell Tesla cars here, "it cannot be a good proposition for India".

"Our request to him is to come to India and manufacture here. We have no problems. The vendors are available, we offer all kinds of technology and because of that, Musk can reduce the cost.

"India is a huge market and offers good export opportunities too. Musk can export Tesla cars from India," he added.

In February also, Gadkari had said that Musk has to manufacture in India first in order to roll out Tesla cars on the roads.

"Now his (Musk's) interest is to manufacture the Tesla car in China and make it sell in India. So, if you start here, you are welcome, no problem. But manufacturing in China and selling in India is not a digestible concept to all of us," he noted.

Asked about Tesla's demand to cut customs duties on electric cars, Gadkari said that the country cannot appease one automobile company.

"India is a huge market. We have all the world's automobile giants -- BMW, Volvo, Mercedes-Benz, Toyota, Honda, Hyundai -- present here. If we give one benefit to one company, we have to give that benefit to other companies also. That is the practical problem," he elaborated.

Musk had tweeted that he faced challenges from the government for releasing its products in India. "Tesla isn't in India yet due to "Challenges with the government", he posted.

The government has questioned Tesla's business practices of seeking tax breaks to use the Indian market to sell its products, but not wanting to set up manufacturing facilities in the country which can generate thousands of jobs.
 
Print the Page
Add to Favorite
 
Share this on :
 

Please comment on this story:
 
Subject :
Message:
(Maximum 1500 characters)  Characters left 1500
Your name:
 

 
  Customs Exchange Rates
Currency Import Export
US Dollar
66.20
64.50
UK Pound
87.50
84.65
Euro
78.25
75.65
Japanese Yen 58.85 56.85
As on 27 Apr, 2022
  Daily Poll
COVID-19 has directly affected your business
 Yes
 No
 Can't say
  Commented Stories
 
 
About Us  |   Advertise with Us  
  Useful Links  |   Terms and Conditions  |   Disclaimer  |   Contact Us  
Follow Us : Facebook Twitter