Elon Musk, the owner of Tesla and the social media platform X, is scheduled to visit India next week. Many significant investment plans are expected to be announced during his visit on April 21-22, including the establishment of Tesla’s manufacturing unit. India has amended its electric vehicle (EV) policy to accommodate this.
A major update has emerged regarding Starlink, the satellite venture of Elon Musk, the world’s third-richest businessman. It has been reported that procedural action is underway on Starlink’s license application, with the government investigating its security aspects. Sources revealed on Tuesday that Foreign Direct Investment (FDI) and financial aspects have been found to comply with the prescribed conditions and provisions. Starlink has also provided an ownership declaration. Two individuals familiar with the matter stated that the investigation into the license is ongoing, with a focus on security aspects.
Starlink, a venture owned by Musk, has applied to commence satellite communication (satcom) services in India. With a constellation of 4,000 satellites orbiting the Earth, Starlink can provide internet services via satellite. Musk’s visit to India next week comes amid expectations of major investment announcements.
Musk’s visit coincides with the recent announcement of India’s new Electric Vehicle (EV) policy. This policy offers import duty concessions to EV companies establishing manufacturing units in the country with a minimum investment of $500 million. The goal is to attract prominent global companies like Tesla.
Last week, Musk confirmed his visit to India and his scheduled meeting with Prime Minister Narendra Modi. He posted on X, stating, “I am looking forward to meeting Prime Minister Narendra Modi in India.” During his visit, Musk will closely monitor the progress of business plans and the approval process for satellite-based internet services.