On Thursday, Indian Prime Minister Narendra Modi met with Tesla Inc. TSLA and SpaceX CEO Elon Musk at the Blair House in Washington, D.C.
What Happened: PM Modi took to X, formerly Twitter, and said, "We discussed various issues, including those he is passionate about such as space, mobility, technology and innovation."
Musk, accompanied by three of his children, also presented Modi with a special gift before their talks.
Before meeting Musk, Modi met with U.S. national security advisor Michael Waltz. Modi’s visit marks his first to the U.S. since President Donald Trump began his second term.
Why It Matters: According to Asian News International, the discussions likely revolved around Starlink’s ambitions in India, with its license application currently under review by the Department of Telecommunications.
The Indian government appears to support Musk’s proposal for spectrum allocation through administrative means, despite opposition from local operators who argue it disrupts a “level playing field.”
Security concerns were also reportedly addressed, with Starlink assuring local data storage.
Potential collaborations between SpaceX and the Indian Space Research Organization may have also been on the agenda, the report noted.
Musk has also been advocating for reduced tariffs on Tesla’s electric vehicles, proposing to export low-cost models to India if tariffs are lowered.
Tesla’s entry into India has been a cycle of hopes and setbacks. In 2019, Musk first showed interest. Over the years, plans for imports and local manufacturing have emerged, but regulatory hurdles and tax cut discussions have remained an obstacle.
In 2023, Tesla leased office space in Pune, and Musk met PM Modi to discuss investment. Last year, Musk canceled his India visit, but the Indian government introduced new duty concessions.
Price Action: Tesla's stock climbed 0.53% in the after-hours trading, reaching $357.81. Earlier on Thursday, it closed at $355.94, reflecting a 5.77% increase, according to Benzinga Pro data.
Photos courtesy: Shutterstock
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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