News Arena

Join us

Home
/

musk-congratulates-modi-eyes-india-for-starlink

Economy

Musk congratulates Modi, eyes India for ‘Starlink’

“Congratulations @narendramodi on your victory in the world’s largest democratic elections! Looking forward to my companies doing exciting work in India,” Musk, 52, said in a post on X on Friday.

News Arena Network - New York - UPDATED: June 8, 2024, 05:45 AM - 3 mins read

PM Modi and Elon Musk during a previous meeting. Image via PIB.

Musk congratulates Modi, eyes India for ‘Starlink’

PM Modi and Elon Musk during a previous meeting. Image via PIB.


American tech billionaire Elon Musk has said he is looking forward to his companies doing "exciting work" in India, as he congratulated Prime Minister Narendra Modi on his historic election victory.

 

Modi will be administered the oath of office on June 9, his third consecutive term as Prime Minister.

 

“Congratulations @narendramodi on your victory in the world’s largest democratic elections! Looking forward to my companies doing exciting work in India,” Musk, 52, said in a post on X on Friday.

 

Responding to Musk's post, Prime Minister Modi said: "Appreciate your greetings @elonmusk." Modi said the talented Indian youth, the country's demography, predictable policies and stable democratic polity would continue to provide the business environment for all its partners.

 

The congratulatory message came two months after the CEO of the electric carmaker Tesla and microblogging platform X in April postponed his proposed visit to India due to "very heavy Tesla obligations".

 

Musk -- who was expected to be in India on April 21 and 22 and scheduled to meet Prime Minister Modi -- later wrote on X that he is looking forward to coming to India later this year.

 

In June last year, Musk met with Modi during the latter's US visit and stated that he planned to visit India in 2024 while expressing confidence that Tesla would enter the Indian market soon.

 

His proposed visit had raised expectations that he would announce plans for electric car maker Tesla to set up shop in the country, along with his satcom venture Starlink.

 

It was also expected that Musk would announce plans for Tesla to set up its manufacturing unit in India and investments could be to the tune of billions of dollars and the way forward for selling Tesla electric cars in India at the earliest.

 

Not just electric cars, he is also eyeing the Indian market for his satellite internet business Starlink, for which regulatory approvals are awaited.

Musk had in the past sought import duty reduction in India for it to be able to sell Tesla cars in the country.

 

Musk's plan to visit India in April came on the heels of the government announcing a new electric vehicle policy, under which import duty concessions will be given to companies setting up manufacturing units in the country with a minimum investment of USD 500 million, a move aimed at attracting major global players like Tesla. 

Related News
Representational Image.

Gold prices rise ₹100, silver climbs 870

July 8, 2024, 06:30 AM - 2 mins read

Indian benchmark indices ended the trading session on a flat note today, following a day of volatile market activity.

Sensex dips 36 pts while Nifty down by 3 pts

July 8, 2024, 04:59 AM - 1 min read

Finance Minister Nirmala Sitharaman has concluded consultations with various stakeholders, marking a significant step in the preparations for the upcoming FY25 budget.

Budget 3.0: Sitharaman concludes stakeholder talks

July 8, 2024, 02:17 AM - 2 mins read

Benchmark indices Nifty and Sensex experienced a sluggish start on July 8, reflecting the previous session's trend as profit booking, particularly in bank stocks, weighed on the market. In contrast, the FMCG and Pharma indices traded in the green, offering some support.

Nifty, Sensex dip as bank stocks decline

July 7, 2024, 11:47 PM - 2 mins read

With the new government taking charge in Britain, senior officials of India and the UK will hold the next round of talks this month for the proposed free trade agreement to resolve the pending issues and close the negotiations, an official has said.

India-UK FTA talks likely this month

July 7, 2024, 07:00 AM - 3 mins read

Benchmark stock market indices ended Friday's trading session on a weak note as banking and financial stocks declined.

Banking stocks weigh on Nifty, Sensex loses 53 pts

July 5, 2024, 03:55 AM - 2 mins read

The average cost of a vegetarian thali saw a significant increase of 10% in June, driven primarily by the rising prices of onions, potatoes, and tomatoes, according to Crisil Market Intelligence and Analysis' monthly "Roti Rice Rate" report released on Friday.

June sees 10% hike in veg thali prices

July 5, 2024, 02:55 AM - 2 mins read

Swiggy, the prominent online food and grocery delivery platform, has introduced its own UPI (Unified Payments Interface) service, aiming to reduce reliance on external payment apps, minimize payment failures, and streamline the checkout experience.

Swiggy introduces In-app UPI to cut payment failures

July 5, 2024, 12:54 AM - 2 mins read

The ninth Governing Council meeting of Niti Aayog, chaired by Prime Minister Narendra Modi and comprising state chief ministers, is expected to convene in August to deliberate on the ‘Viksit Bharat @2047’ vision document.

PM Modi to chair Niti Aayog meet on India 2047 vision

July 4, 2024, 11:22 PM - 2 mins read

In a positive session for the Indian stock market, both the Sensex and Nifty indices ended the day in green territory.

LIC acquires IDFC first stake, Sensex hits 80,000

July 4, 2024, 04:06 AM - 2 mins read

https://www.instagram.com/thelaughclubofficial/
https://www.instagram.com/burraahhh_/

Economy

See All
Representational Image.

Gold prices rise ₹100, silver climbs 870

July 8, 2024, 06:30 AM - 2 mins read

"In Delhi markets, spot gold prices (24 carats) are quoted at Rs 73,410 per 10 grams, up by Rs 100 from the Friday’s afternoon price.

Read more
PM Modi at the Eight meeting of the NITI Aayog governing council.

PM to chair NITI Aayog Governing Council meet on July 27

July 8, 2024, 05:45 AM - 2 mins read

"Ahead of the Council meeting, Finance Minister Nirmala Sitharaman will likely give a glimpse of the Viksit Bharat vision and action plan in the Budget on July 23," the official said.

Read more
Indian benchmark indices ended the trading session on a flat note today, following a day of volatile market activity.

Sensex dips 36 pts while Nifty down by 3 pts

July 8, 2024, 04:59 AM - 1 min read

Among the top Nifty gainers were ONGC, ITC, HDFC Life, HUL, and Tata Consumer Products. Conversely, the top losers included Divis Labs, Titan Company, BPCL, Shriram Finance, and Adani Ports. Sectorally, capital goods, FMCG, and oil & gas sectors witnessed gains of 0.6-1.5 percent.

Read more
Finance Minister Nirmala Sitharaman has concluded consultations with various stakeholders, marking a significant step in the preparations for the upcoming FY25 budget.

Budget 3.0: Sitharaman concludes stakeholder talks

July 8, 2024, 02:16 AM - 2 mins read

The series of pre-budget consultations, held between June 19 and July 5, 2024, involved over 120 invitees from ten key stakeholder groups. These groups included farmer associations, trade unions, representatives from the education and health sectors, employment sectors, MSMEs, industry experts, economists, financial markets, and infrastructure sectors.

Read more
Benchmark indices Nifty and Sensex experienced a sluggish start on July 8, reflecting the previous session's trend as profit booking, particularly in bank stocks, weighed on the market. In contrast, the FMCG and Pharma indices traded in the green, offering some support.

Nifty, Sensex dip as bank stocks decline

July 7, 2024, 11:46 PM - 2 mins read

Among sector trends, FMCG and Pharma sectors were the bright spots. The FMCG index emerged as the frontrunner, led by gains in Hindustan Unilever, ITC, and Marico stocks. Conversely, the Nifty Bank index traded lower, slipping 0.6 percent, with major laggards including ICICI Bank and Bank of Baroda.

Read more
With the new government taking charge in Britain, senior officials of India and the UK will hold the next round of talks this month for the proposed free trade agreement to resolve the pending issues and close the negotiations, an official has said.

India-UK FTA talks likely this month

July 7, 2024, 06:54 AM - 3 mins read

With the new government taking charge in Britain, senior officials of India and the UK will hold the next round of talks this month for the proposed free trade agreement to resolve the pending issues and close the negotiations, an official has said.

Read more
Image for representative use.

First international cargo flight departs Mangaluru airport

July 6, 2024, 01:36 AM - 2 mins read

The airport's integrated cargo terminal was formally launched on Friday in the presence of officials from AAHL Cargo, Mangaluru International Airport, Customs, IndiGo, Air India Express, and CISF. 

Read more
Benchmark stock market indices ended Friday's trading session on a weak note as banking and financial stocks declined.

Banking stocks weigh on Nifty, Sensex loses 53 pts

July 5, 2024, 03:55 AM - 2 mins read

Despite the dip in major indices, most broader market indices ended in positive territory as volatility declined. Among sectoral indices, Nifty Financial Services and Nifty Bank were the top losers, primarily due to a significant 4.5% drop in HDFC Bank shares.

Read more
The average cost of a vegetarian thali saw a significant increase of 10% in June, driven primarily by the rising prices of onions, potatoes, and tomatoes, according to Crisil Market Intelligence and Analysis' monthly "Roti Rice Rate" report released on Friday.

June sees 10% hike in veg thali prices

July 5, 2024, 02:55 AM - 2 mins read

The report highlighted that the cost of a vegetarian thali, which includes roti, vegetables (onions, tomatoes, and potatoes), rice, dal, curd, and salad, rose to Rs 29.4 per plate in June. This marks an increase from Rs 26.7 in the same period last year and from Rs 27.8 in May 2024.

Read more
Swiggy, the prominent online food and grocery delivery platform, has introduced its own UPI (Unified Payments Interface) service, aiming to reduce reliance on external payment apps, minimize payment failures, and streamline the checkout experience.

Swiggy introduces In-app UPI to cut payment failures

July 5, 2024, 12:54 AM - 2 mins read

A source revealed that Swiggy has been testing the UPI service with its employees for the past month and plans to gradually roll out the service to all users in phases over the coming months. The UPI Plugin, launched by the National Payments Corporation of India (NPCI) in 2022, allows merchants to offer UPI payment services within their apps without needing a TPAP license.

Read more
The ninth Governing Council meeting of Niti Aayog, chaired by Prime Minister Narendra Modi and comprising state chief ministers, is expected to convene in August to deliberate on the ‘Viksit Bharat @2047’ vision document.

PM Modi to chair Niti Aayog meet on India 2047 vision

July 4, 2024, 11:21 PM - 2 mins read

Sources reveal that ahead of the Council meeting, Finance Minister Nirmala Sitharaman will provide an initial overview of the ‘Viksit Bharat’ vision and action plan in the upcoming Budget later this month. The ambitious goal includes positioning India as a $30 trillion economy by 2047, driven by significant policy reforms and governance changes by 2030.

Read more
In a positive session for the Indian stock market, both the Sensex and Nifty indices ended the day in green territory.

LIC acquires IDFC first stake, Sensex hits 80,000

July 4, 2024, 04:06 AM - 2 mins read

Top gainers of the day included Tata Motors, HCL Tech, ICICI Bank, Sun Pharma and TCS. On the flip side, the day's laggards were HDFC Bank, Bajaj Finance, Adani Entertainment, Wipro, and Tech Mahindra. Sectoral indices showed a mixed performance. Financial services, FMCG, media, and metal ended the day in red. 

Read more

TOP CATEGORIES

  • Nation

QUICK LINKS

About us Rss FeedSitemapPrivacy PolicyTerms & Condition
logo

2024 News Arena India Pvt Ltd | All rights reserved | The Ideaz Factory