America may be eyeing zero tariff on cars in India before tesla starts its business

There may be a trade deal between the US and India soon. In this, America is eyeing the abolition of tariffs on the import of cars. Tesla, one of the large electric vehicle (EV) companies, is preparing to start business in the country soon. Before this, tariffs on the import of cars can be reduced.

Sources who are aware of this told the reuters that the conversation on bilateral trade between the two countries would include more tariffs on automobiles. Cars to be imported in India have a tax of up to 110 percent. The Chief of Tesla, Elon Musk is opposing it. American President Donald Trump also supports Musk on the issue. Trump has expressed displeasure over more tax in India. In its address to US Congress earlier this week Trump It was said that India can be retaliated with more tariffs. “Except for the US agriculture,” will ask India to make the tariffs zero or modest in most sectors except the US agriculture. ”

Another source said that India is focusing on the arguments of America. However, he will clarify his situation over tariffs after interacting with local industries. Last month, in the meeting between Prime Minister Narendra Modi and Trump, both sides agreed to resolve the dispute over the tariff.

Tesla’s first showroom in India may open at Brandra Kurla Complex (BKC) in Mumbai. The company has taken a space of about 4,000 square feet in BKC’s Maker Maxity Building. For this, a securities deposit of about 2.11 crore rupees has been given. A fare of Rs 35.26 lakh per month will be paid for this space. According to the registration documents from the real estate data analytics firm Cre Matrix, the license for this space is Tesla India Motor & Energy PVT, which has an office at Panchsheel Business Park in Pune’s Plane Nagar in Maharashtra. NDTV Profit has seen a copy of the lease and license agreement for this space. This rent agreement is for five years. In the second half of this year, the company can start its business in the country.

(This news has not been edited by the NDTV team. It has been published directly from the syndicate feed.)