Indian states woo Musk over Twitter to build Tesla plant

Tesla Shanghai Gigafactory. Getty Images
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Updated 17 January 2022
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Indian states woo Musk over Twitter to build Tesla plant

  • Musk has insisted India must slash import duties of as much as 100 percent

Indian politicians reached out to Tesla founder Elon Musk over Twitter in bids to lure the electric vehicle giant to set up production in their provinces, Bloomberg reported.

Local leaders from at least five Indian states — Telangana in the south, Maharashtra in the west, Punjab in the north, West Bengal in the east, and Tamil Nadu in the south — urged the carmaker to set up shop in their regions over the weekend.

Musk and the Indian government — led by Prime Minister Narendra Modi — have been in talks for at least three years over bringing a factory to the Asian country, but have been at loggerheads over import duties.

Musk has insisted India must slash import duties of as much as 100 percent to allow the carmaker to establish a market. 

But the states — all ruled by parties opposed to Modi’s Bharatiya Janata Party — stressed the high quality of their local infrastructure, sustainability and a streamlined approval process to entice the billionaire.

“Drop here, we in West Bengal have the best infrastructure & our leader @MamataOfficial has got the vision. Bengal means Business,” Bloomberg reported, said a tweet by Ghulam Rabbani, West Bengal’s minister for minority affairs and Madrassah education to Musk.

A tweet by Musk replied that the firm was “still working through a lot of challenges with the government.” 

Red tape, land acquisition, and labor rights are a challenge for any firm that wants to open a plant in India, the news outlet reported.

India is the world’s fourth-largest car market in the world with a population of more than 1.3 billion people.


Closing Bell: Saudi main index closes in green at 11,382 

Updated 27 January 2026
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Closing Bell: Saudi main index closes in green at 11,382 

RIYADH: Saudi Arabia’s Tadawul All Share Index rose on Tuesday, gaining 111.21 points, or 0.99 percent, to close at 11,381.83. 

The total trading turnover of the benchmark index was SR6.37 billion ($1.70 billion), as 204 of the listed stocks advanced, while 56 retreated. 

The MSCI Tadawul Index also rose, adding 13.85 points, or 0.91 percent, to close at 1,533.33. 

The Kingdom’s parallel market Nomu gained 8.39 points, or 0.04 percent, to close at 23,749.38. This came as 30 of the listed stocks advanced, while 45 retreated. 

The best-performing stock was East Pipes Integrated Co. for Industry, with its share price surging 9.94 percent to SR146. 

Other top performers included Tourism Enterprise Co., which saw its share price rise by 9.93 percent to SR14.17, and Thob Al Aseel Co., which saw a 7.84 percent increase to SR3.99. 

On the downside, Saudi Arabian Mining Co. was among the weaker performers, with its share price falling 2.64 percent to SR77.40. 

Saudi Paper Manufacturing Co. saw its shares fall 2.54 percent to SR57.50, while Yamama Cement Co. declined 2.07 percent to SR27.40. 

On the announcements front, Future Vision for Health Training Co. signed a two-year cooperation agreement with King Saud University aimed at strengthening links between academia and professional readiness. 

According to a Tadawul statement, the partnership focuses on the joint development and execution of specialized training programs for university students, aiming to enhance their practical skills and employability. 

The initiative includes coordinated efforts in training design, academic supervision, and program evaluation, with the goal of better preparing graduates for the labor market. 

The agreement, which is renewable by mutual consent, is expected to start generating a positive financial impact in the second half of 2026. The company said no related parties are involved in the deal. 

The company’s share price closed at SR7.30 on Nomu, marking a 1.39 percent decrease.