Elon Musk's India Visit Expected to widen the growth of EV Sector & SpaceTech startups

Elon Musk's India Visit Expected to widen the growth of EV Sector & SpaceTech startups

Great Business tycoon and investor Elon Musk will be visiting India to attend a series of meetings and extensive interactions with government officials, startups and business leaders. The Tesla CEO is planning to spend at least 48 hours in India.

He is coming to visit the honorable Prime Minister of India Narendra Modi. The meeting of the two delegates was fixed in the morning on 22nd April. After the meeting, Musk is expected to make an announcement on Tesla's plans to enter the India market.

The Indian government has been appealing Tesla to invest and make electric cars in India not just for domestic market but for exports as well. Tesla, which has signed a deal with Tata Electronics for components, is likely to increase component sourcing from India for plants in Germany and Freemont.

According to the media report, Tesla is looking to invest $2-3 billion in India and is in search of prospective locations to setup a manufacturing plant. The company is expected to apply for the new electric vehicle manufacturing policy to avail of duty concessions on imported cars.

After the meeting, in the evening on that day, Musk will be meeting space startups in New Delhi at Bharat Mandapam. Skyroot Aerospace, Bellatrix and Agnikul are among the startups who will be participating the in the meeting.

The Indian government has been preparing for Star link to start gigantic tech operations in India. According to the media report, Musk has expressed his interest to bring Tesla in India and also he could talk about Starlink's plan to bring satellite based internet services to India.

Later in the day, Musk will be addressing approximately 200 business leaders. Musk who is likely to be accompanied by his children could even visit Agra, but the plans are yet to be finalized said a source requesting anonymity.

Indian Government has been holding a deep conversation with Musk on not just making electric vehicles in India but also on space and broadband connectivity. Musk will offer multiple opportunities to be explored across the space sector, including collaboration with Indian startups and there could be an announcement by Musk regarding the space sector.