- Advertisement -
HomeCURRENT AFFAIRSTesla has appealed to the PMO office to cut the import duty...

Tesla has appealed to the PMO office to cut the import duty on the electric car

Tesla the world’s largest electric car company, wants to enter the Indian market as soon as possible. The company wants assurance of tax deduction before entering the Indian market. In view of this, Tesla has urged Prime Minister Narendra Modi’s office to reduce import taxes on electric vehicles before entering the market.

According to the news of Reuters, Tesla has appealed to the PMO office to cut the import duty on the electric car. However, domestic car companies are vocally opposing any tax exemption to Tesla.

Tesla wants to start selling imported cars in India this year, but they say taxes in India are among the highest in the world.

For the first time in July, the company appealed to the Government of India for tax deduction, after which domestic companies are raising objections. Domestic companies believe that such a move will hamper investment in domestic manufacturing.

Also Read – PM Modi to Inaugurate Infosys Foundation ‘Vishram Sadan’ Tomorrow

Four sources told Reuters that they has also sought time from Prime Minister Narendra Modi for a meeting with the company’s chief Elon Musk on the matter. In this matter, top officials including Tesla’s policy chief Manuj Khurana in India held a secret meeting in the PMO last monthIn this, company officials said that the tax rates in the country are among the highest in the world. However, it is not yet clear what response Tesla has received from the PMO.

Tesla wants to start selling its imported cars in India this year. In the meeting, Tesla said that if the tax rates were not reduced, then it would not be viable for the company to do business in India. In this market, there is a 60 percent import duty on vehicles up to $ 40,000, or about Rs 30 lakh, but 100 percent on vehicles valued above that. If these tariffs remain in effect, Tesla cars will be virtually inaccessible to customers.

Enter Your Email To get daily Newsletter in your inbox

- Advertisement -

Latest Post

Latest News

- Advertisement -