Elon Musk Tesla Revenue Secretary Sanjay Malhotra said that no proposal is under consideration by the Finance Ministry to grant tax exemption to American automobile company Tesla.
Tesla CEO Elon Musk met Prime Minister Narendra Modi during his US visit in June 2023. Elon Musk then said that Prime Minister Modi wants Tesla to invest in India. He then hinted that an announcement would be made soon. Tesla is seeking tax exemption before investing in India. But according to Reuters, the revenue secretary has clarified that any tax exemption is not under consideration by the revenue department.
For some time now, there has been a conversation between Tesla and the Indian government regarding Tesla’s investment. Elon Musk wants to set up a Tesla factory in India. But Tesla has sought exemption from customs duties on imported electric vehicles. The Indian government is rejecting their demand. Tesla wants to test cars here before setting up a factory in India.
It was an honor to meet again
— Elon Musk (@elonmusk) June 20, 2023
Earlier in Lok Sabha last year, during the question period on behalf of the Ministry of Heavy Industries, it was said that it cannot be that the market belongs to India and job opportunities should be created in China. At the time, the Ministry of Heavy Industries had said that the government would consider any tax breaks only after Tesla started manufacturing electric vehicles in India. It was said on behalf of the government that the government has come up with a PLI scheme for automobiles and auto components and advanced chemistry cell batteries. The scheme is applicable to domestic as well as foreign companies.
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Notably, Elon Musk made a comment about Tesla’s investment plans in India after meeting PM Modi. When reporters asked him about Tesla’s investment plans in India, he said, “I am sure that Tesla will reach India. I am sure that it will happen soon. Musk also said that he may visit India next year.
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