Serum Institute CEO Adar Poonawalla has given very special investment advice to Tesla head Elon Musk on Sunday.
Poonawalla told Musk that in case he doesn’t buy Twitter then he must look at investing some of his capital in India.
For high-quality large-scale manufacturing of Tesla cars, Musk should invest in India, Poonawalla added.
The Serum’s CEO has assured him that investing in India will be Musk’s best-ever investment.
Poonawalla’s suggestions have come days after union transport minister Nitin Gadkari also asserted, “If Tesla manufactures its electric cars in India, then they will also get benefits”.
Despite eyeing the growing Indian market for the last three years, musk has not been able to launch operations in the country amid an impasse with the Centre over import duties and local manufacturing.
While the Centre wants Tesla to set up a base in India and sell locally, Musk insists on slashing import duties first.
Several state governments have invited Tesla to set up shop in their provinces, including West Bengal, Telangana, Punjab, Maharashtra, and Tamil Nadu.
Tesla’s plan to enter the Indian market has been put on hold since 2019 due to high import taxes on electric vehicles. India levies a 60% import tax on electric cars priced at $40,000 or less.
