Elon Musk, CEO of Tesla and SpaceX, has met in New York with the Indian Prime Minister, Narendra Modi, hours before he begins his state visit to the US, the first since he came to power in 2014. the owner of Twitter, India is a more promising destination than any other major country. Drawn by the country’s sustainable energy potential, Musk told his caller that he hoped the long-operating electric carmaker in China could start doing business there “as soon as humanly possible.”
India is on a roll, due to its economic potential and its decisive role as a counterweight to China in the region. In a balancing act, New Delhi has managed to maintain good relations with the West and with Russia since the invasion of Ukraine. A large consumer of cheap Russian oil (which today accounts for 19% of the country’s annual crude imports, up from 2% in 2021), high growth and relatively low inflation have attracted investors from around the world. The strength of the technology sector is the main attraction for investors like Musk.
Modi has invited the magnate to “explore opportunities for investments in electric mobility and the rapidly expanding commercial space sector,” the Prime Minister’s Office said in a statement. “I think India is more promising than any large country in the world,” the Tesla founder said at a press conference after the interview, from which he left “incredibly excited” about the future of the Asian country.
The Indian Executive had previously expressed its interest in the installation of a Tesla assembly factory, under the policy Made in India, the mantra of Modi’s ambitious economic plans a year before the presidential election. The American company has preferred to explore the market before investing. Modi “is pushing us to make a significant investment in India, which is something we tend to do. We just have to find the right time,” Musk said.
Giants of the global economy such as Apple have expanded production in the country, not without shocks. According to Financial Times, the maker of the iPhone has seen factory defect rates skyrocket this year compared to those produced in China. In addition, the attack on the Adani Group, a business conglomerate founded by a close Modi ally, has raised concerns about influence-peddling capitalism and a lack of transparency in accounting standards. Adani, the world’s third-richest man, has denied the allegations.
International Day of Yoga
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In his appearance, Musk did not mention the pressure from New Delhi on Twitter. Twitter co-founder Jack Dorsey accused the Asian giant of trying to shut down the platform in 2020 and 2021 – before Musk bought it – for refusing to remove content critical of the government. Since the tycoon’s acquisition of the social network, authorities have managed to get Twitter to remove or silence content critical of Modi and his party, the Hindu nationalist Bharatiya Janata (BJP), a censorship that has fueled concern about the deterioration of the largest democracy in the world. The statement from Modi’s Office has also made no reference to the matter.
In addition to Musk, Modi has met in New York with about twenty executives, academics and celebrities. A self-confessed yogi, the Indian prime minister presided over a yoga session this Wednesday morning in the access patio to the UN headquarters in New York. Today marks the International Day of Yoga, instituted nine years ago by the organization at the request of the Indian politician, who also planned to take his demand to the UN that the most populous country in the world occupy a permanent seat on the Security Council. The state visit will start this Thursday in Washington. Hailed by New Delhi as a “historic” opportunity to “expand and consolidate” bilateral ties, Modi’s trip comes amid growing concern over the country’s democratic setback under the Hindu nationalist leader.
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