Washington D.C, Tech billionaire Elon Musk announced that he is postponing his trip to India, which was intended to include a meeting with Indian Prime Minister Narendra Modi. The announcement was made on Musk’s social media platform X, formerly known as Twitter.
According to Kashmir Media Service, Musk explained that his visit to India is delayed due to “very heavy Tesla obligations,” but he expressed optimism about visiting later in the year. Musk last visited India in 2007.
Musk’s visit was initially scheduled for this weekend, with plans to meet Modi and key executives from Indian aerospace companies. He was also expected to meet with executives from several space startups in New Delhi.
During the visit, Musk was anticipated to announce Tesla’s plans to enter the Indian market. Reports indicated that he would announce an investment of $2 billion to $3 billion, primarily to build a manufacturing plant in India. This comes after the Modi government introduced a policy reducing tariffs on imported electric vehicles if companies invest locally.
Additionally, Musk was expected to discuss regulatory approvals for offering his Starlink satellite broadband services in India. Currently, his business interests in India are limited to X, where he has faced criticism from free speech activists for allegedly complying with the Indian government’s demands to remove critical posts.
The postponement of Musk’s trip raises questions about Tesla’s entry into the Indian market and its broader implications for the electric vehicle industry in South Asia. Musk’s announcement also underscores the complexities of his business interests in India and the regulatory environment he navigates.