PM replied to Elon Musk: Prime Minister, Narendra Modi thanked Elon Musk, the CEO of Tesla and SpaceX for congratulating him on his electoral victory in the 2024 Lok Sabha elections. PM Modi replied to Musk in a post on social media platform X (formerly Twitter) saying that the talented Indian youth, demography, predictable policies and stable democratic system will continue to create a favourable business environment in the country.

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"I appreciate your greetings @elonmusk. The talented Indian youth, our demography, predictable policies and stable democratic polity will continue to provide the business environment for all our partners," PM Narendra Modi added in his post.

Elon Musk congratulates PM Modi, says looks forward for "exciting work" in India

In July last year, the company added that it wants to build a factory in the country to make a car that costs around Rs 17,30,000.

Musk was set to visit India in April this year, but he delayed his trip to India at the last minute and visited China.

"Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year," Musk had said.

The government is actively working to promote manufacturing at home in the electric vehicle sector. Apart from the FAME initiatives that commenced in 2019, more recently, it reduced the import tax on certain EVs for manufacturers who pledged to invest at least USD 500 million and begin manufacturing within three years.