Announcement of Tesla’s entry into Indian markets is very likely to be made after its billionaire CEO Musk’s meeting with PM Modi. Musk confirmed his trip to India and intense lobbying for reduced import duties on EVs.Elon Musk lead carmaker Tesla’s entry into Indian markets has been long awaited and finally after the billionaire’s meet with PM Modi on April 22, Tesla entry will become a reality.

On the condition of anonymity an official divulged that the anticipated announcement won’t be “site-specific” because for that, Tesla would need a board approval. “It is more of a signaling.” “Expect a general announcement that the US-based EV (electric vehicle) maker is coming into India not a site-specific one. To announce a specific site Tesla typically needs board approval, which may happen only later,” the official stated.”For now, Musk may welcome the EV policy and say that he looks forward to being in Indian market soon,” the official further added.Tesla aims to make India a base for manufacturing its low-cost EV variants, priced at ₹ 20-25 lakh.

Earlier this month, via a post on his social media networking site X, Musk confirmed his trip to India and meeting with PM Modi.”Looking forward to meeting with Prime Minister Narendra Modi in India!” he posted. The official said, a press release and video will possibly be released post his interaction with PM Modi, although Musk will not address the media during this 48-hour visit of his to India. Musk had previously met PM Modi last year in New York.

Tesla reportedly lobbied the Centre relentlessly for months to lower import duties on EVs as it contemplated setting up a factory here.In March, a revised EV policy reducing import taxes to 15 per cent from 100 per cent on some models for any manufacturer who invests at least $500 million and establishes a factory in the country too.

Concurrently, the license application of Musk’s satellite venture Starlink is under consideration, and GOI is examining the security aspects, news agency PTI reported quoting sources.The FDI and financial aspects are in consonance with the conditionsand requirements, the report said, adding that the ownership ‘declaration’ has already been received from Starlink. Musk’s visit is scheduled between initial two phases of the 7 phase general elections (polling for which starts April 19), which Modi and his Party are widely expected to win.