New Delhi:
Prime Minister Narendra Modi and tech magnate Elon Musk engaged in discussions today regarding a potential partnership between the US and India in the realms of technology and innovation. Building upon their previous meeting in Washington, the two leaders explored the possibilities of Mr. Musk’s companies, such as Tesla and Starlink, making investments in India.
PM Modi emphasized the “enormous potential” for collaboration between India and the US in these key areas, reaffirming India’s commitment to fostering a strong partnership with Washington in technology and innovation.
“Had a conversation with Elon Musk covering various topics, continuing our dialogue from our previous meeting in Washington DC earlier this year. We delved into the vast potential for collaboration in technology and innovation. India is dedicated to furthering our partnerships with the US in these fields,” PM Modi shared on his social media platform, X – another enterprise owned by Elon Musk.
The phone call between PM Modi and Elon Musk comes amidst the backdrop of an intense trade dispute between the US and China, marked by escalating tariffs on both sides – with China imposing a 245% tariff on all US exports and the US responding with a 125% retaliatory tariff on top of an existing 67% tariff on Chinese imports.
These tariff wars have significantly impacted the industry, particularly the tech sector, as many top American tech companies rely heavily on manufacturing in China. Consequently, tech industry leaders have been exploring alternative manufacturing destinations.
India, with its robust manufacturing sector in technology and automotive industries, and facing a 26% retaliatory tariff from President Trump, is emerging as a favorable option for tech firms seeking new manufacturing hubs. Tesla, under Elon Musk’s leadership, is also considering this shift.
