Commerce and Industry Minister Piyush Goyal on Thursday said that there has been no discussion at the moment regarding investment in India by US industrialist Elon Musk’s Tesla and Starlink. Addressing a press conference in the national capital, Goyal said that since both the issues are being looked into by different ministries, he personally has no information about what is happening. Responding to a question regarding possible investment by Tesla and Starlink, the minister said, “As far as I know, we have not had any discussion….”
Goyal said, “…But both these subjects are handled by different ministries. The Ministry of Heavy Industries looks after the vehicle and Starlink will be handled by the Department of Space. So, I personally don’t know what is happening….” Earlier in April, Musk had pulled out of his much-hyped visit to India, including a meeting with Prime Minister Narendra Modi, at the last minute, citing ‘very heavy obligations of Tesla’.
He was expected to announce Tesla’s plans to set up its manufacturing unit in India and invest billions of dollars, and also talk about the future of selling Tesla electric cars (EVs) in India at the earliest. Not just electric cars, he was also eyeing the Indian market for his satellite internet business unit Starlink.
Union Telecom Minister Jyotiraditya Scindia said this month that Starlink will have to comply with all the norms to get a license for services in India. The minister had said that the satellite internet service provider is in the process of fulfilling all the requirements and will get the license after the process is completed.
Summary
Union Minister Piyush Goyal stated that there are no ongoing discussions regarding Tesla or Starlink’s investment plans in India at the moment. This comment comes amid speculation about potential foreign investments from these companies in the country.