India’s Stable Policies Continue to Facilitate Business Environment: PM Modi Replies to Elon Musk

Prime Minister Narendra Modi thanked Elon Musk, the CEO of Tesla and SpaceX, for congratulating him on his electoral victory in the 2024 Lok Sabha elections.

PM Modi responded to Musk on the social media platform X (formerly Twitter), stating that India's talented youth, demographic advantages, predictable policies, and stable democratic system will continue to create a favorable business environment.

On June 7, Musk congratulated Modi on being elected Prime Minister of India for the third time. In his X post, Musk expressed excitement about his companies' future activities in India. “Congratulations, Narendra Modi, on your victory in the world’s largest democratic elections! Looking forward to my companies doing exciting work in India,” Musk wrote.

Musk was scheduled to visit India in April this year but postponed his trip due to Tesla obligations, opting to visit China instead. “Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year,” Musk had explained.

The Indian government is actively promoting domestic manufacturing in the electric vehicle (EV) sector. In addition to the FAME initiatives launched in 2019, it has recently reduced import taxes on certain EVs for manufacturers who commit to investing at least USD 500 million and starting production within three years.

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