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Tesla about to double its components imports from India

Reuters · 1y ago

Tesla about to double its components imports from India

Tesla plans to double its component imports from India, according to Indian Trade Minister Piyush Goyal. He made the announcement after visiting Tesla's manufacturing facility in California. In September, Tesla aimed to source components worth $1.7 billion to $1.9 billion from India for the year. The minister's visit included discussions on Tesla's plans to set up a factory in India, manufacture a $24,000 car there, source more components, and establish charging infrastructure across the nation.

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Elon Musk's Tesla may launch its most affordable car in India after Germany

Livemint

Livemint · 1y ago

Elon Musk's Tesla may launch its most affordable car in India after Germany

Tesla, the electric car company led by billionaire Elon Musk, is set to launch its most affordable model, a two-door car, in Germany. According to sources, the same model will also be introduced in India. While Tesla has not made an official announcement about its entry into the Indian market, reports suggest that imports of Tesla models will commence from 2024. The first model to be made available in India is expected to be the Model Y crossover. Tesla is reportedly planning to source components worth billions of dollars from India in the coming years.

Elon Musk apologizes after Piyush Goyal's visit to Tesla Fremont factory

Livemint

Livemint · 1y ago

Elon Musk apologizes after Piyush Goyal's visit to Tesla Fremont factory

Elon Musk, CEO of Tesla, apologizes to India's commerce minister, Piyush Goyal, for not being able to meet him during his visit to Tesla's factory in California. Musk expresses his gratitude for Goyal's visit and hopes to meet him in the future. Goyal praises India's contribution to Tesla's journey and states that the company is set to increase its imports from India. Speculation arises about tax concessions for Tesla to establish an EV manufacturing facility in India.

Hyundai Motor shares tank 7% today; check analyst views, targets & more

Business Today

Business Today · 6m ago

Hyundai Motor shares tank 7% today; check analyst views, targets & more

Hyundai Motor India Ltd shares dropped over 6.65% to Rs 1,700.05, reducing its market capitalization to Rs 1.38 lakh crore. This decline was influenced by concerns over sales volume, speculation about relaxed EV imports, muted quarterly earnings, and the potential entry of Tesla into the Indian market.

India’s Drone Dream Still Flies on Foreign Parts

OutlookIndia

OutlookIndia · 3m ago

India’s Drone Dream Still Flies on Foreign Parts

India aims to be a drone superpower, yet relies heavily on foreign components, especially from China, for its drones' engines, sensors, and cameras. Although start-ups like Optiemus Unmanned Systems are pushing indigenization, challenges remain due to reliance on imports, cybersecurity risks, and a booming grey market for components. India's R&D investment lags, hampering innovation. Government initiatives encourage local manufacturing, but the path to a self-reliant drone industry involves overcoming significant hurdles.

India announces $5 billion incentive to boost electronics manufacturing

Livemint

Livemint · 9m ago

India announces $5 billion incentive to boost electronics manufacturing

India plans to introduce incentives worth up to $5 billion to encourage local electronics manufacturers to produce components for devices like smartphones and laptops. This move aims to reduce dependence on Chinese imports and strengthen domestic supply chains. Despite being the fourth-largest smartphone supplier globally, India relies heavily on imported components, particularly from China and Hong Kong. The new scheme, led by the Ministry of Electronics, will focus on manufacturing critical components and is part of India's larger ambition to scale up electronics production to $500 billion by 2030.

Apple exports 97.6% of iPhones to US from India amid tariffs: Report

Economic Times

Economic Times · 4m ago

Apple exports 97.6% of iPhones to US from India amid tariffs: Report

Apple increased its iPhone exports from India to the US due to impending tariffs on Chinese imports. In March 2025, 97.6% of iPhones exported to the US were from India, as Apple shifted production from China to India. S&P Global reported a 219% rise in exports, driven by tariff concerns. Despite reliance on Chinese components, Apple plans to centralize US-bound iPhone production in India by 2026, leveraging local incentive schemes and expanding manufacturing facilities.

India's natural gas consumption to more than double by 2040: PNGRB study

Economic Times

Economic Times · 2m ago

India's natural gas consumption to more than double by 2040: PNGRB study

India's natural gas consumption is forecasted to increase by about 60% by 2030 and more than double by 2040, driven by its use as CNG for transportation, cooking, and industrial purposes. While city gas distribution will become the largest sector for gas consumption, imports will continue to fulfill half of the demand. LNG imports are set to rise significantly, facilitating the country’s transition to cleaner energy sources as part of its net-zero emission goals by 2070.

US negotiators postpone 25 August Delhi visit, trade talks with India stall ahead of sixth round

Economic Times

Economic Times · 12d ago

US negotiators postpone 25 August Delhi visit, trade talks with India stall ahead of sixth round

A scheduled visit of a U.S. delegation to India for trade negotiations was postponed, affecting ongoing talks on a bilateral trade agreement. The visit aimed to alleviate escalating trade tensions, including the U.S. imposing a 25% tariff on Indian exports, set to double. The delay complicates efforts to address trade imbalances and the U.S.'s leverage over India's continued Russian oil imports. India remains committed to maintaining key imports and advocating for its economic interests.

Elon Musk's Tesla in talks with Reliance to set up Indian operations: Report

Livemint

Livemint · 1y ago

Elon Musk's Tesla in talks with Reliance to set up Indian operations: Report

Tesla is reportedly in talks with Reliance Industries to establish a joint venture and manufacturing facility in India. The discussions, which have been ongoing for over a month, would see Reliance playing a significant role in setting up the facility and the necessary ecosystem for Tesla in the country. Elon Musk's team had previously scouted for potential sites for a $2-3 billion electric car plant in India, and Tesla is also looking to increase purchases of auto components from the country.

India's electronics components demand projected to reach $240 billion by 2030

Economic Times

Economic Times · 1y ago

India's electronics components demand projected to reach $240 billion by 2030

According to a report by the Confederation of Indian Industry, the demand for electronics components and sub-assemblies in India is projected to reach $240 billion by 2030. The report highlights the need for India to reduce its dependence on imports for critical components and sub-assemblies, such as PCBAs (printed circuit board assembly). The report also suggests implementing fiscal support, bringing import tariffs to under 5%, and pursuing free trade agreements to boost domestic manufacturing and make India a global hub for electronics production. Such actions could result in job creation and increased GDP.

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