Home International Will Tesla get tax exemption on entry in India, know the government’s answer

Will Tesla get tax exemption on entry in India, know the government’s answer

by Trend News
3 minutes read
Elon Musk

Tesla owner Elon Musk is trying hard to come to India, in this connection his top officials came to India in May, while on the other hand, during Prime Minister Narendra Modi’s visit to America, Elon Musk himself met him. Had also done it, then Elon Musk had said that he is coming to India very soon.

No tax incentive for Tesla

So is the government planning to give any kind of tax exemption or incentive to Tesla for entry into India? Revenue Secretary Sanjay Malhotra has rejected this possibility outright. In an interview given to the news agency Reuters, he told that ‘we are not considering giving any kind of tax incentive to Tesla’.

Musk met Prime Minister Modi in June

Last month in June, during a meeting with Prime Minister Narendra Modi, Elon Musk had said that he would come to India as soon as possible and would also make a big investment. Musk had said, ‘I believe that Tesla will be in India and it will happen as soon as possible.’ Musk said that he would visit India next year. ‘I am incredibly excited about the future of India. I think India has more possibilities than any other big country in the world.

Musk had said that India has strong potential for sustainable energy, including solar power, stationary battery packs and electric vehicles.

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In an interview with The Wall Street Journal, when Musk was asked whether Tesla was interested in the Indian market, he replied – of course. He said that Tesla can decide the place to set up its factory in India by the end of this year.

Tesla is testing in India

Tesla has already registered its business under the name of Tesla India Motors and Energy Private Limited, and is also testing its vehicles in the country, but it wants the government to reduce the import duty on electric vehicles and its components. .

Although India has already made it clear that Tesla should start its production in India first, after that tax benefits can be considered.

Earlier, Elon Musk had said in a tweet in May last year that he will not manufacture his cars in India until he is allowed to sell and service cars in the country.

While a few days ago, Road and Transport Minister Nitin Gadkari had said that if Tesla wants to manufacture its cars in India then it is fine, but they cannot import their cars from China and bring them to India.

But Musk has been adamant that he can set up manufacturing in India, but first he would like to import his vehicles here and reduce the duty on that too.

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