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Tesla Goes To PM’s Office, Requests Tax Cut On Electric Vehicles: Report – dot newz

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Tesla has requested for a meeting between Elon Musk and PM Narendra Modi, Reuters said

New Delhi:

Tesla Inc has urged the Prime Minister’s Office to slash import taxes on electric vehicles before it enters the market, four sources told Reuters, ratcheting up demands that faced objections from some Indian automakers.

Tesla wants to begin selling imported cars in India this year but says taxes in the country are among the highest in the world. Its request for tax cuts – first reported by Reuters in July – prompted objections from several local players, who say such a move would deter investment in domestic manufacturing.

Tesla executives, including its head of policy in India, Manuj Khurana, took the company’s demands to Prime Minister Narendra Modi’s officials last month in a closed-door meeting, arguing that the taxes were too high, four sources familiar with the discussions said.

During the meeting at PM Modi’s office, Tesla said that India’s duty structure would not make its business in the country a “viable proposition”, according to one of the sources.

India levies an import duty of 60 per cent on electric vehicles that cost $40,000 or less, and 100 per cent duty on those priced over $40,000. Analysts have said that at these rates Tesla cars would become far too costly for buyers and could limit their sales.

Tesla has separately also put in a request for a meeting between its Chief Executive Elon Musk and PM Modi, three of the sources said.

PM Modi’s office and Tesla, as well as its executive Mr Khurana, did not respond to a request for comment.

It is not clear what PM Modi’s office specifically told Tesla in response, but the four sources told Reuters government officials are divided over the US automaker’s demands. Some officials want the company to commit to local manufacturing before considering any import tax breaks.

Concern about the impact on the local auto industry is also weighing on the government, the sources added.

Indian companies such as Tata Motors, which recently raised $1 billion from investors including TPG to boost EV production locally, has said giving Tesla concessions would be contrary to India’s plans to boost domestic EV manufacturing.

One of the sources, who has direct knowledge of the government’s thinking, said: “If Tesla was the only EV maker, decreasing duties would have worked. But there are others.”

The transport minister said this month Tesla should not sell made-in-China cars in India and should manufacture locally instead, but Tesla has indicated it first wants to experiment with imports. Mr Musk said on Twitter in July that “if Tesla is able to succeed with imported vehicles, then a factory in India is quite likely.”

The Indian market for premium EVs is still in its infancy and charging infrastructure is scarce. Just 5,000 of the 2.4 million cars sold in India last year were electric.

One government official said lowering duties for a limited period to pave the way for Tesla’s entry could “boost India’s investor friendly image and green credentials” while also attracting more investments.



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India Is No.1 Food Supplier To Arab Nations After 15 Years – dot newz

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The Arab world is among Brazil’s most important trade partners.

Sao Paulo:

India surpassed Brazil in food exports to the League of Arab States for the first time in 15 years as the COVID-19 pandemic disrupted trade flows in 2020, according to data provided by the Arab-Brazil Chamber of Commerce to Reuters on Tuesday.

The Arab world is among Brazil’s most important trade partners, but its distance from those markets took its toll as the pandemic rattled global logistics.

Brazil accounted for 8.15% of the total agribusiness products imported by the 22 League members last year, whereas India captured 8.25% of that trade, ending Brazil’s 15-year advantage, the data showed.

Despite remaining competitive “from the farm gate in,” Brazil lost ground to India and other exporters such as Turkey, the United States, France and Argentina amid a disruption of traditional shipping routes.

Brazilian shipments to Saudi Arabia that once took 30 days could now take up to 60 days, according to the Chamber, whereas India’s geographic advantages allow it to ship fruits, vegetables, sugar, grains and meat in as little as week.

Brazil’s agricultural exports to the Arab League rose just 1.4% by value to $8.17 billion last year. Between January and October this year, sales totaled $6.78 billion, up 5.5%, as logistics problems subsided, Chamber data showed.

China’s push to boost its own food inventories during the pandemic also diverted some of Brazil’s trade with the Arabs, leading countries such as Saudi Arabia to step up promotion of domestic food production, while seeking alternative suppliers.

“It’s a turning point. The Saudis are still big buyers, but they are also net re-exporters of food,” the Chamber said in a statement.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)



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“BJP Development? Coconut Breaks A Road Open!” Akhilesh Yadav Sneers – dot newz

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Lucknow:

Samajwadi Party chief Akhilesh Yadav, ally Jayant Choudhary at his side, berated Chief Minister Yogi Adityanath and the BJP on multiple issues today — including development, which the ruling party placed front and centre of the coming election. “What infrastructure has the BJP created,” he questioned, citing a recent headline from Bijnore that has raised many a chuckle in the state.

“The older tradition was — hit the coconut on the road and the coconut breaks. The new tradition they have started is hit the coconut on ground and the ground must break,” he told NDTV, speaking on the sidelines of a rally in Mathura attended by thousands.

Suchi Mausam Chaudhary, the BJP MLA from Bijnor Sadar, was left furious earlier this month at the traditional inauguration when bits of a 7-km road, renovated at a cost of Rs 1.16 crore, came off when struck by a coconut.

Challengers to the BJP government which came to power in the state with a sweeping mandate, the two leaders made a prediction. “Looking at anger among the people, BJP can even lose 400 seats. They will be wiped out in the western UP,” Akhilesh Yadav said.

Their sharpest barbs were reserved for Chief Minister Yogi Adityanath.

In his address, Mr Yadav had spoken of the BJP “misrule” in terms of jobs, education development and farmers’ issues. Asked about his remark that the “Baba (Yogi Adityanath) just sits in Gorakhpur and rings a bell (while all this is happennig),” and how it would be received by the state’s Hindu voters, Rashtriya Lok Dal chief Jayant Chaudhary spoke up.

“Adityanath is not a symbol of Hindu unity, he can be questioned,” Mr Chaudhary said. “This is not an issue about Hindu pride but issues like unemployment. Adityanath said he will give 70 lakh jobs. Today, their own posters say they have given only four lakh jobs,” he added.

Akhilesh Yadav had other questions. “The Chief Minister should answer whether the man sitting in the jeep that mowed down farmers (in Lakhimpur Kheri) was the Union Home Minister’s son or not… Yogi must answer how many cases were against him that he removed himself after becoming the Chief Minister,” he added.



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Women’s Commission Seeks Report On BJP Leader’s Remark About Mumbai Mayor – dot newz

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Kishori Pednekar is the current Mayor of Mumbai. (File)

The Maharashtra State Commission for Women has asked the Mumbai police commissioner to submit a factual report about an alleged objectionable remark passed by BJP leader Ashish Shelar about mayor Kishori Pednekar in connection with the recent cylinder blast in Worli.

Taking to Twitter, the Commission’s chairperson Rupali Chakankar said “insulting” comments made about women by responsible public representatives “will not be tolerated”.

The Commission has, therefore, taken a “serious” note of the comment and asked the Mumbai police chief to submit a factual report in this connection, Ms Chakankar tweeted on Monday night.

In her letter to the police commissioner, Ms Chakankar claimed, “Shelar’s comment ”the Mumbai Mayor visited (those injured in the blast) after 72 hours of the incident, where were you (the mayor) sleeping for these many hours?” is being broadcast in the news media”.

“So, a factual report should be submitted in this connection as per section 12(2) and 12(3) of the Maharashtra State Commission for Women Act, 1993,” she said.

Three members of a family died after a gas cylinder exploded in their home in a chawl in Worli area of central Mumbai.

(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)



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