American tech billionaire Elon Musk expressed his anticipation for his companies' upcoming ventures in India as he congratulated Prime Minister Narendra Modi on his significant re-election victory.
Modi is set to take the oath of office for his third consecutive term as Prime Minister on June 9.
"Congratulations @narendramodi on your victory in the world's largest democratic elections! Looking forward to my companies doing exciting work in India," Musk said in a post on Twitter.
Musk's congratulatory message follows his postponed visit to India in April, originally scheduled to meet with Prime Minister Modi. He cited heavy obligations at Tesla for delaying the visit, but expressed his intention to visit later in the year.
In June last year, Musk met Modi during the Indian Prime Minister's visit to the United States, where he expressed confidence in Tesla's entry into the Indian market and announced plans to visit in 2024.
The anticipated visit had raised expectations that Musk would announce Tesla's plans to establish a manufacturing unit in India, potentially investing billions of dollars. There was also anticipation regarding the launch of Tesla electric cars in India.
Beyond electric cars, Musk is also eyeing the Indian market for his satellite internet business, Starlink, pending regulatory approvals.
Previously, Musk had advocated for reductions in import duties in India to facilitate the sale of Tesla cars in the country.
Musk's proposed visit to India in April coincided with the Indian government's announcement of a new electric vehicle policy, offering import duty concessions to companies setting up manufacturing units in India with a minimum investment of USD 500 million.
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