
As tensions with China rise, American businesses are spending more time considering India as a new location for manufacturing. Tesla CEO Elon Musk recently met with India’s Prime Minister Narendra Modi and afterwards told Reuters that a significant investment in India is “something we intend to do.” Hyunjoo Jin and Shivangi Acharya report for Reuters:
India has strong potential for a sustainable energy future including solar power, stationary battery packs and electric vehicles, Musk said, adding that he hopes to bring SpaceX’s Starlink satellite internet service to India as well.
“He (Modi) really cares about India because he’s pushing us to make significant investments in India, which is something we intend to do,” Musk told reporters after the meeting.
“I am confident that Tesla will be in India and will do so as soon as humanly possible.”
Later, India’s foreign ministry spokesperson tweeted saying Modi had invited Musk to “explore opportunities in India for investments in electric mobility and rapidly expanding commercial space sector.”
Soon after, Bloomberg reported that Alphabet, parent company of Google, is looking for suppliers in India to assemble its Pixel smartphones. Sankalp Phartiyal reports:
Alphabet Inc.’s Google is scouting for suppliers in India to assemble its Pixel smartphones as it borrows from Apple Inc.’s playbook to diversify beyond China.
Google has initiated early conversations with companies including homegrown Lava International Ltd. and Dixon Technologies India Ltd. as well as Foxconn Technology Group’s Indian unit Bharat FIH, people familiar with the matter said, asking not to be named as the matter is private.
Google would be the latest global technology player to move production to India. The potential partners it’s talking to have won Prime Minister Narendra Modi’s so-called production-linked financial incentives, which have boosted local manufacturing. Apple has used the program to widen its supplier base in India and tripled iPhone output to more than $7 billion in the fiscal year through March 2023.