Mumbai, April 14: Elon Musk’s India visit is scheduled for April 21 and 22. During this 2-day visit, the tech billionaire will visit Prime Minister Narendra Modi and discuss his mega investment plans. Elon Musk’s 48-hour visit to India is expected to be packed as he would meet top government officials and industry leaders as well and reveal his plan to introduce his India-made Tesla EV in the coming months.
Ahead of Elon Musk’s arrival in India, there were reports that the Indian government started easing the licensing process of his Starlink broadband internet service company. It is also expected that the tech billionaire will also have a significant announcement about his satellite internet service company. Tesla and SpaceX CEO is confirmed to visit PM Narendra Modi to discuss his Tesla entry meeting with the new EV policy’s investment requirement of Rs 4150 crore, around $500 million. Tesla Considering Layoffs? Employees Fear Job Cuts at Austin Gigafactory and Fremont Factory.
According to a report by Hindustan Times, the Indian government expedited allocating licenses to the Starlink satellite company. The DoT might issue a letter of intent (LoI) along with a trial spectrum for the company. The report said the government department had been conducting inter-ministerial discussions over a security issue. Starlink is expected to offer pilot services in the retail consumer space, and the Internet company will also require additional permission from MHA (Ministry of Home Affairs).
According to another report by Mint, Elon Musk will launch his Starlink services in India with estimated investment plans of $2 billion to $3 billion. Once Elon Musk’s Starlink gets a license and approval in India, the company will offer its high-speed internet service in the country. Elon Musk Confirms India Visit: Tech Billionaire To Meet Prime Minister Narendra Modi on April 22 in New Delhi.
Besides Starlink’s internet services, Elon Musk will also focus on entering the Indian EV market. Last year in June, Elon Musk and PM Narendra Modi met in New York when the tech billionaire said that Tesla would arrive in India as soon as possible. Over the years, the Tesla CEO stepped back from India due to preferring to import cars in India at lower duty, and India wanted EVs which were made locally. However, Tesla’s entry will be imminent with the new EV policy introduced on March 15, which slashed import taxes on specific models from 100% to 15%. The reports said Elon Musk might invest $2 billion to $3 billion in India for Tesla EV project.
(The above story first appeared on LatestLY on Apr 14, 2024 01:38 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).
