oppn parties Tesla Set To Enter India

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  • Allahabad HC said that the UP Police is acting as law unto themselves as they detained a person unlawfully even before his arrest
  • Kolkata witnesses traffic snarls on the first day of the Durga Puja festival as revellers start pnadal-hopping
  • Neha Bora was subsequently released and Dipke is to appear before a magistrate today at noon
  • Delhi Police detained Cockroach Janta Party founder Abhijeet Dipke, Neha Bora of AISA, student leaders and supporters ahead of a rally in Connaught Place demanding Chief Election Commissioner Gyanesh Kumar's resignation. The protest followed the detention and jailing of two CJP leaders earlier in the week over demonstrations at Jantar Mantar
  • The Reserve Bank of India is considering further monetary tightening to counter capital outflows and increase the cost of betting against the rupee, according to bankers and analysts cited by Reuters. The measures follow recent rate increases and steps to drain liquidity as pressure on the currency and inflation concerns persist
  • India directed oil marketing companies to stop diverting sugar-based feedstocks for ethanol production in the 2026–27 supply year, according to a new tender issued on Friday. The companies have invited bids for 11 billion litres of ethanol made from alternatives including corn and broken rice, amid concerns about domestic sugar supplies and prices
  • Finance Minister Nirmala Sitharaman said India's trade imbalance with China was growing sharply and attributed the problem partly to restrictions on Indian goods and services entering the Chinese market. China subsequently said it was ready to work with India to address mutual economic and trade concerns; India's trade deficit with China reached $69 billion in the first half of FY2026–27, up 27% year-on-year
  • Indian equity benchmarks extended their recovery on Friday, with the Sensex rising 413.66 points to close at 74,729.27 and the Nifty 50 gaining 148.80 points to settle at 23,146.15. Information technology shares, including Tech Mahindra, Infosys and TCS, helped lift the indices
  • India defeated Zimbabwe by four wickets in the opening women's T20 International in Raipur, taking a 1–0 lead in the three-match series. Deepti Sharma and Niki Prasad combined in an 82-run stand after India's top order collapsed, helping the hosts chase down Zimbabwe's total of 114 for five
  • Indian wrestler Komal won bronze in the women's 59 kg category at the Under-23 World Wrestling Championships in Las Vegas, defeating Kazakhstan's Viktoriia Khusainova 7–2. Fellow Indian Amruta Pujari advanced to the women's 72 kg final after recording two pinfall victories
  • Indian shuttler Jagsher Singh Khangurra secured a bronze medal at the BWF World Junior Badminton Championships in Cairo
  • The Supreme Court of India upheld the Bombay High Court's decision quashing the 2020 write-off of ₹8,415 crore in additional tier-1 bonds issued by Yes Bank (Yes Bank). The court ruled that the bank's administrator lacked the authority to extinguish the bonds under the final reconstruction scheme, strengthening bondholders' claims
  • The Supreme Court issued notices to the Election Commission of India, Delhi Police and opposition leaders, including Rahul Gandhi and Akhilesh Yadav, in separate petitions concerning electoral-roll revision and protests held in Delhi on October 10–12. The court also directed the preservation of CCTV footage linked to allegations of police excesses
  • The Supreme Court ruled that a person converting from Hinduism to Islam cannot automatically claim backward-class reservation benefits in the new religious community solely on the basis of their previous caste status. The judgment upheld the Madras High Court's decision striking down a 2024 Tamil Nadu government order that permitted such certification for specified communities
  • The Election Commission of India ordered a Special Summary Revision of electoral rolls in 14 states and three Union Territories, using January 1, 2027, as the qualifying date for voter eligibility. The draft rolls are scheduled for publication on November 12, claims and objections will be accepted until December 11, and the final rolls are due on January 4, 2027
Tragedy in Kolkata: Stampede at the Chor Bagan Pujo results in 18 people losing their lives and scores injured /////// The stampede was caused by a sudden downpour which made people in the heavy crowd run for cover
oppn parties
Tesla Set To Enter India

By Linus Garg
First publised on 2024-04-12 03:31:02

About the Author

Sunil Garodia Linus tackles things head-on. He takes sides in his analysis and it fits excellently with our editorial policy. No 'maybe's' and 'allegedly' for him, only things in black and white.

After the EV policy was changed recently and made more attractive for those willing to invest $800mn or more in India by allowing them import duty concessions on EV vehicle parts, it was a given that EV major Tesla would set up shop in the country. An indication for the same has now been received with the news that Tesla chief Elon Musk will be visiting India later this month and is likely to meet Prime Minister Modi to firm up his company's entry into the Indian market. Musk posted on X (earlier Twitter) that he looked forward to his meeting with the Indian Prime Minister.

Tesla has been doing the groundwork of entering the lucrative Indian market for years. It had been petitioning the government for concessions. But the government did not want to go overboard in welcoming the EV giant. Still, with the recent policy change, it is expected that Tesla will invest anywhere between $2-3bn in setting up manufacturing facilities in India to start with its entry-level electric cars, likely to be priced at around Rs 25 lakh. There will be more investments in downstream units.

Tesla has been under pressure in the US after its share prices had slumped. It is looking for new markets and the Indian market offers a huge opportunity. With the government pushing for EVs and the market still largely untapped, the demand for an aggressively priced, entry-level electric car is there. Hence, Tesla is likely to go all out to seek further concessions and guarantees from the government and enter the Indian market in a big way.

Tesla's entry is also likely to shake up the EV market in India. The company is known to aggressively push its products through various means and the Indian market for electric cars has remained stagnant despite the government's efforts to provide subsidy. High price of EVs has remained an obstacle for most buyers and it remains to be seen if Tesla can overcome that. 

image courtesy: CNBC (caption ours)

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