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Tesla’s India Plans Suffer Setback After Minister Denies Tax Cut Move: ET

Oxfam said it used the 2021 Billionaires List compiled by US business magazine Forbes, which includes Tesla CEO Elon Musk at the top. Photo: Reuters.

(AF) India has said it has no plans to cut import duties on electric vehicles, weeks after Tesla Inc. appealed to the government to slash taxes, dealing a blow to Elon Musk’s plans to set up a local factory in the future, according to a report by The Economic Times.

“No such proposal is under consideration in the Ministry of Heavy Industries,” junior minister Krishan Pal Gurjar told parliament on Monday, reported the ET. Full story: The Economic Times

Indrajit Basu

Indrajit Basu is an India-based correspondent for Asia Financial and wears two hats: journalist and researcher (equity). Before joining AF he reported on business, finance, technology, wealth management, and current affairs for China Daily, SCMP, UPI, India Today Group, Indian Express Group, and many more. He is also an award-winning researcher. If he didn't have to pay bills, he would be a wanderer.


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