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Elon Musk won’t be saying funding plans for his entry into India on the Vibrant Gujarat International Summit, a authorities official stated.
“It’s the prerogative of any firm to determine the place to take a position. The federal government of Gujarat will probably be more than pleased to facilitate them,” stated Rahul Gupta, Managing Director, Gujarat Industrial Growth Company on Wednesday.
He was responding to a question on the expectation that Musk could announce plans to arrange a producing facility for Tesla automobiles in Gujarat on the state’s investor summit.
“Gujarat continues to be probably the most most well-liked funding vacation spot for the electrical car sector,” Gupta additional highlighted.
International secretary Vinay Kwatra famous that discussions with the electrical car maker for organising a producing facility in India have been taken up throughout Prime Minister Narendra Modi’s go to to the USA in mid-June 2023.
Tesla has since then been in talks with India for investing upto $2 billion for organising an EV manufacturing unit within the nation. The corporate has, nevertheless, sought concessional import duties of about 15% to twenty% on import of automobiles for atleast the primary two years.
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