Elon Musk and Piyush Goyal
Indian Union Minister Piyush Goyal is on American tour. He also visited Tesla’s plant. This visit has been seen at a time when the Indian government is considering giving import duty concession to Tesla. Meanwhile, Elon Musk has also apologized to Union Minister Piyush Goyal. After all, why did Elon Musk need to apologize to Piyush Goyal? What did he say that every Indian can be proud of? Let us tell you also.
Why did Elon Musk apologize?
The world’s richest man and Tesla CEO Elon Musk has apologized to India’s Commerce Minister Piyush Goyal for not being able to join him during his visit to the company’s factory in Fremont, California. Elon Musk said it was an “honor” for Goyal to visit the Fremont plant. Apart from this he said that he is very eager to meet him in future. Responding to Goyal’s post on X, Musk wrote that it is an honor to have your Tesla! I’m sorry for not being able to visit California today, but I look forward to meeting in the future.
Piyush Goyal visited Tesla plant
Commerce and Industry Minister Piyush Goyal visited the manufacturing unit of American electric vehicle company Tesla in Fremont, California. He said that the company will double the imports for its vehicle components from India. Goyal wrote on social media platform X that he visited Tesla’s state-of-the-art manufacturing unit in Fremont, California. It is good to see talented Indian engineers and finance professionals working in senior posts. Also, it was a great pleasure to see Tesla’s contribution to the change in the world of motor vehicles.
Tesla may get tax relief
He said that he is also proud to see the increasing contribution of Indian vehicle component suppliers in the Tesla electric vehicle supply chain. They are going to double the import of their components from India. This visit of Piyush Goyal has come at a time when the Indian government is considering giving customs duty concession to Tesla in India. Musk had said in August 2021 that if Tesla is successful in importing vehicles into the country, then it can set up a manufacturing unit in India. He had said that Tesla wants to enter its vehicle in India, but the import duty in India is the highest compared to any big country in the world.
How much does India impose import charges?
India currently imposes 100 per cent import duty on fully imported cars with a CIF (cost, insurance and freight) value of more than US$40,000. It imposes 70 percent import duty on cars costing less than this. Elon Musk, head of Tesla Inc., the world’s largest electric car manufacturer, met Prime Minister Narendra Modi in New York in June. After the meeting, Musk had said that he plans to visit India in 2024.
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