India’s stable policies continue to facilitate biz environment: Modi to Musk

Prime Minister Narendra Modi thanked Tesla CEO Elon Musk for congratulating him on his electoral victory in the 2024 Lok Sabha elections. Modi expressed appreciation for Musk’s greetings and highlighted the favorable business environment in India due to its talented youth, demographic dividend, predictable policies, and stable democratic system. Musk had previously expressed excitement about his companies doing work in India and there were reports of Tesla considering setting up manufacturing plants in states like Maharashtra, Gujarat, and Tamil Nadu. The Indian government is actively promoting manufacturing in the electric vehicle sector, with incentives for manufacturers who invest at least $500 million and begin production within three years. Musk had planned to visit India but postponed the trip due to Tesla obligations.


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