Musk Meets With Modi to Discuss India Investment

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Facts

  • On Tuesday, Tesla CEO Elon Musk met with Indian Prime Minister Narendra Modi as part of Modi's visit to the US. The two reportedly discussed expanding Tesla's investment in India, with Musk telling reporters afterward that Tesla will enter the Indian market "as soon as humanly possible."1
  • Last month, Tesla and India restarted discussions to expand into the Indian market after earlier negotiations stalled. Modi and Musk are also believed to have discussed sustainable power generation in India, as well as the potential expansion of Starlink internet service in the country.2
  • Reuters reported that Tesla's plan to export cars to the Indian market to gauge interest was rejected by India, which wished to see the cars produced locally. After the meeting, Musk said it was "quite likely" investment in India would expand.3
  • After the meeting, Musk called himself a "fan of Modi," adding that he is "incredibly excited about the future of India." Modi extended an invitation to Musk to visit, which could happen as soon as next year.4
  • Musk has been actively scouting locations for a new Tesla factory around the globe, with South Korea as a top candidate. A preliminary deal to open a factory in Indonesia would see that nation produce 1M cars a year.2
  • Modi has also met with other high-level business and tech leaders, and a state dinner on Thursday is set for him to meet with the CEOs of Google, Apple, and Microsoft. Modi and Musk last met in 2015, when the former visited a Tesla factory in California.4

Sources: 1Reuters, 2Bloomberg, 3BBC News, and 4CNBC.

Narratives

  • Right narrative, as provided by EastMojo. India's emergence as an economic superpower is now impossible to ignore, as Modi has met with titans of the industry during his visit to America. To have the endorsement of one of the world's most successful men bodes well for India's prospects under the Modi government. Luminaries from finance to science have been lining up to gain insight from the Prime Minister and explore opportunities for investment and collaboration, showing that the best of India's development is yet to come.
  • Left narrative, as provided by BBC News. It is curious that the current owner of Twitter, and free speech advocate, would cozy up to the man who threatened to shut down the site if they didn't comply with government demands. This is one of many human rights concerns under Modi's rule, and Musk should not be effusively praising a leader with such a checkered past. Elon Musk appears to be abandoning his principles in the pursuit of profit, and should not engage with Modi in such an uncritical manner.

Predictions