Govt to Tesla: No local sourcing required for manufacturing in India

Govt to Tesla: No local sourcing required for manufacturing in India

The government today clarified that US-based electric car major Tesla will not have to source local components if it plans to set up a manufacturing unit in India.

The government responded to apprehensions expressed by Tesla founder Elon Musk that the company would have to source a certain percentage of local components to set up plant here.

The commerce and industry ministry through its ‘Make in India’ Twitter handle stated that the foreign direct investment (FDI) policy does not mandate any such minimum sourcing of components by manufacturers. Read more

Credits:energy.economictimes.indiatimes.com

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