India’s Finance Minister Sitharaman said in an interview with Network18 Media, a subsidiary of CNBC, that Tesla’s intention to invest or build a factory in India will send a strong message to international investors,. “India has favorable manufacturing policies, a skilled young and middle-aged workforce and a huge market.” At the same time, it will also enhance India’s attractiveness as a “global manufacturing center”.
Sitharaman said that young people in India have the qualifications and skills to work in manufacturing, and companies willing to set up factories in India “can get all facilities at preferential prices.” “If a large manufacturing giant expresses interest in producing in India, it will play a positive role in promoting the manufacturing environment in India. If high-tech companies come to India, it means that our policy is correct and overseas Exports are also in India’s interest.” After Elon Musk announced his visit to India, the stock prices of several local auto parts companies rose.
According to previous report, people familiar with the matter said that Elon Musk will announce Tesla’s investment plan in India when he visits India next week. It is expected to invest US$2 billion to US$3 billion (currently about 14.48 to 21.72 billion yuan), mainly for the construction of new factories. Elon Musk plans to visit India during the week of April 22 to 28 to meet with Indian Prime Minister Narendra Modi, which was confirmed by Elon Musk.
