Elon Musk Tesla: At present, the government has no plans to give any kind of tax incentive to Elm Musk’s Tesla. Revenue Secretary Sanjay Malhotra said that no proposal is under consideration before the Finance Ministry to give tax exemption to American automobile company Tesla.
PM in June 2023 Narendra Modi Tesla CEO Elon Musk met the Prime Minister during his visit to America. Then Elon Musk had said that Prime Minister Modi wants Tesla to invest in India. He then indicated that an announcement would be made soon. Tesla has been demanding tax exemption before investing in India. But according to Reuters, the Revenue Secretary has clarified that the matter of any kind of tax exemption is not under consideration before the Department of Revenue.
For the past few years, talks have been going on between Tesla and the Government of India regarding Tesla’s investment. Alan Musk wants to set up Tesla’s Tesla factory in India. But Tesla has demanded exemption from custom duty on imported electric vehicles. The Government of India has been rejecting his demand. Tesla wants to test cars here before setting up a factory in India.
Earlier in the Lok Sabha last year, in the question hour on behalf of the Ministry of Heavy Industries, it was said that it cannot happen that the market should be India and job opportunities should be created in China. Then the Ministry of Heavy Industries had said that only after Tesla produces electric vehicles in India, the government will consider any tax concession. On behalf of the government, it was said that the government has come up with a PLI scheme for automobile and auto components and advanced chemistry cell batteries. This scheme is applicable to domestic as well as foreign companies.
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