A day after Tesla Inc CEO Elon Musk raised doubts over the existing environment of foreign companies in India, ‘Make in India’ came out with a list of rules and clarifications, saying that FDI policy did not mandate minimum sourcing of components by manufacturers.
“After manufacturing in India, a foreign investor is permitted to sell in any manner: wholesale, retail including e-commerce,” said Make in India’s official Twitter handle.Here's more on Tesla Model 3!
Musk, in a tweet in February, had announced, on Twitter, that he was hoping for Tesla’s entry to India this summer. But, three months later, on Monday, Musk said he might be misinformed but “India’s rules implied that 30% of the parts must be sourced locally and the supply doesn’t exist in India to support that”.
The government aims to make all vehicles in India electric by 2030.
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