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08/06/24 | 3:12 pm | Elon Musk | PM Modi

India’s stable policies continue to facilitate business environment: PM replied to Elon Musk

Prime Minister, Narendra Modi thanked Elon Musk, the CEO of Tesla and SpaceX for congratulating him on his electoral victory in the 2024 Lok Sabha elections.

PM Modi replied to Musk in a post on social media platform X (formerly Twitter) saying that the talented Indian youth, demography, predictable policies and stable democratic system will continue to create a favourable business environment in the country.

On June 7, Musk congratulated the Indian PM on being elected Prime Minister of India for the third time. In a post on his X timeline, Musk said he looks forward to his companies doing exciting work in India.

“Congratulations, Narendra Modi on your victory in the world’s largest democratic elections! Looking forward to my companies doing exciting work in India,” Musk posted on X.

Musk was set to visit India in April this year, but he delayed his trip to India at the last minute and visited China.

“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 had said.

The government is actively working to promote manufacturing at home in the electric vehicle sector.

Apart from the FAME initiatives that commenced in 2019, more recently, it reduced the import tax on certain EVs for manufacturers who pledged to invest at least USD 500 million and begin manufacturing within three years.

(ANI)

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