In the times of the Internet and social media, you just can't get away by posting a factually wrong statement. This is exactly what happened with technology entrepreneur Elon Musk recently on Twitter.
Earlier this year in February, when a Twitter user asked Musk about Tesla's plans of launching in India anytime soon, Musk got everyone excited in the South Asian country when he replied that the company is eyeing a summer launch this year.
https://twitter.com/elonmusk/status/829027848434257924
Seeing that it has been May already with no official word from Tesla on the launch yet, another Twitter asked Musk if the launch is happening this year or next year. To everyone's shock and disappointment, Musk announced that he doesn't see Tesla cars on Indian roads anytime soon as he has been informed that 30% of parts for the cars need to be locally sourced and unfortunately, the supply doesn't yet exist in India to support that.
https://twitter.com/elonmusk/status/866473048639066112
Thought it seems, the billionaire entrepreneur has been misinformed about the rules and regulations. In order to set the record straight and uplift the spirits of the people dreaming to own a Tesla car in India, the Indian government's Make In India Twitter account tweeted a long explanation about how Musk has got the facts wrong.
https://twitter.com/makeinindia/status/866910403254603776
The government quashed Musk's claim in four easy points, and said:
1) Not Correct. FDI policy of India does not mandate any such minimum sourcing of components by manufacturers.
2) After manufacturing in India, a foreign investor is permitted to sell in any manner: wholesale, retail including e-commerce.
3) FDI Policy also permits wholesale of imported goods in India without sourcing conditions.
4) It is only for retail trading of goods, that sourcing conditions are mandated. Conditions not applicable to manufacturers as goods are manufactured in India.
While the government has cleared its stance, let's see what Musk has to say next about Tesla's debut in India.
Notably, the Indian government plans to have an all electric-car fleet on Indian roads by the year 2030 (Read Here). It will be interesting to see how Tesla car's which would cost around 35-45 lakhs (when launched) will help the government in achieving this target that they have set.
Earlier this year in February, when a Twitter user asked Musk about Tesla's plans of launching in India anytime soon, Musk got everyone excited in the South Asian country when he replied that the company is eyeing a summer launch this year.
https://twitter.com/elonmusk/status/829027848434257924
Seeing that it has been May already with no official word from Tesla on the launch yet, another Twitter asked Musk if the launch is happening this year or next year. To everyone's shock and disappointment, Musk announced that he doesn't see Tesla cars on Indian roads anytime soon as he has been informed that 30% of parts for the cars need to be locally sourced and unfortunately, the supply doesn't yet exist in India to support that.
https://twitter.com/elonmusk/status/866473048639066112
Thought it seems, the billionaire entrepreneur has been misinformed about the rules and regulations. In order to set the record straight and uplift the spirits of the people dreaming to own a Tesla car in India, the Indian government's Make In India Twitter account tweeted a long explanation about how Musk has got the facts wrong.
https://twitter.com/makeinindia/status/866910403254603776
The government quashed Musk's claim in four easy points, and said:
1) Not Correct. FDI policy of India does not mandate any such minimum sourcing of components by manufacturers.
2) After manufacturing in India, a foreign investor is permitted to sell in any manner: wholesale, retail including e-commerce.
3) FDI Policy also permits wholesale of imported goods in India without sourcing conditions.
4) It is only for retail trading of goods, that sourcing conditions are mandated. Conditions not applicable to manufacturers as goods are manufactured in India.
While the government has cleared its stance, let's see what Musk has to say next about Tesla's debut in India.
Notably, the Indian government plans to have an all electric-car fleet on Indian roads by the year 2030 (Read Here). It will be interesting to see how Tesla car's which would cost around 35-45 lakhs (when launched) will help the government in achieving this target that they have set.
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