Tesla looking at sourcing components worth about USD 1.9 bn from India: Goyal
New Delhi (PTI): US-based electric vehicle maker Tesla is looking to source components worth around USD 1.9 billion from India this year against USD 1 billion last year, Commerce and Industry Minister Piyush Goyal said on Wednesday.
The minister said that going forward, demand for electric vehicles will increase and it will help in pushing the growth of the sector.
"Tesla already last year bought one billion dollars of components from I think all of you sitting here... I have the list of companies who supply to Tesla. This year their target is nearly USD 1.7 billion or USD 1.9 billion what they mentioned," he said here at an event of auto component makers.
Earlier the government had stated that it is not looking to frame a separate policy for providing incentives to Tesla, and the company can apply to avail support measures under existing schemes like PLI for auto and advanced chemistry cells
The government has rolled out the production-linked incentives (PLI) schemes (PLI) for advanced chemistry cell (ACC) battery storage with an outlay of Rs 18,100 crore and Rs 26,058 crore PLI scheme for auto, auto-components and drone industries.
The world's largest electric car producer Tesla Inc's chief Elon Musk met Prime Minister Narendra Modi in June in New York.
Musk, after meeting the Prime Minister, said he plans to visit India in 2024.
When asked whether the government is considering duty concessions on completely built-up units to attract certain sections of electric cars into India, the minister said: "Everything we have done has been done equally without any differentiation, without any preferences".
"This is the government which provides equal opportunity to everybody. So we will come out with a policy. A policy which will be in consultation with all the stakeholders - SIAM and ACMA - both will have a role in helping us draft a good policy," he added.
The government is continuously making efforts to attract newer investments and newer opportunities for the sector.
"Very clearly, we can see that going forward there will be a natural demand and an increasing demand or shift driven by an economic story by which we will see the electric auto industry grow," he said.
The electric auto industry, he said, is growing worldwide and it will see that growth in India also.
He added that the demand gap between electric vehicles and other vehicles has reduced and "narrowed quite significantly".
"My own sense is that going forward, that delta (gap) will get further squeezed and compressed," he said adding in taxis, public transport, and buses, "we already see electric vehicles becoming a very compulsive investment case".
"In this situation, we would like to see more investments and a larger production output in India of electric vehicles as soon as possible in the near future," the minister said, adding with increasing demand and production, the Indian auto component industry will not only than produce for a larger India demand, but also export.
Citing some meetings with auto industry participants, he said players have indicated that they have an interest in coming to India.
"And therefore, I am convinced that this is the future and this is something we must try to attract," Goyal said.
It will be a compulsive business case by 2030 for consumers to go in for electric vehicles and it will not be any by policy or artificial intervention.
When asked about foreign firms looking to invest in India as part of their China plus one strategy, Goyal said that global companies are coming to India because of its attractiveness.
"I totally debunk and reject the China plus one theory. That's not what is going to drive India...India of today stands on its own feet. The India of today has offerings for the rest of the world... both for investment and trade," he said.
Goyal added that India provides them good business environment, skills, managerial talent, a big market, and demand generated by 1.4 billion people.
"It's a rules-based economy..., it's a young democracy.....one of the fastest growing large economies. All of this makes it a compulsive investment destination.
"Therefore companies around the world have gone beyond the China-plus-one story, they have gone beyond the ABC philosophy of anything but China, they have gone beyond friend-shoring or near-shoring and are looking at India as a trusted partner," he added.
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London, Nov 22: A bomb disposal squad deployed as a “precaution” to the South Terminal of Gatwick Airport concluded an investigation into a "security incident" on Friday after making a “suspect package” safe.
The South Terminal of Gatwick Airport, the UK's second busiest airport after Heathrow, which was briefly shut owing to the incident reopened following the incident.
The Gatwick is around 45 km south of London.
Two people detained during the enquiries have since been allowed to continue their journey as the airport was opened.
“Police have concluded their investigation into a report of a suspect package at Gatwick Airport. Officers from the EOD (Explosive Ordnance Disposal) team made the package safe, and the airport has been handed back to its operator,” Sussex Police said in an updated statement.
“Two people detained while enquiries were ongoing have subsequently been allowed to continue their journeys. There will remain an increased police presence in the area to assist with passengers accessing the South Terminal for onward travel,” the statement added.
Earlier on Friday, the incident caused severe disruption at the busy airport’s South Terminal, while the North Terminal of Gatwick Airport remained unaffected.
“Police were called to the South Terminal at Gatwick Airport at 8.20 am on Friday (November 22) following the discovery of a suspected prohibited item in luggage,” a Sussex Police statement said.
“To ensure the safety of the public, staff and other airport users, a security cordon has been put in place whilst the matter is dealt with. As a precaution, an EOD (Explosive Ordnance Disposal) team is being deployed to the airport. This is causing significant disruption and some roads around the South Terminal have been closed. We’d advise the public to avoid the area where possible,” it said.
Footage on social media taken outside the airport showed crowds of frustrated travellers being moved away from the terminal building.
Gatwick said it was working hard to resolve the issue.
“A large part of the South Terminal has been evacuated as a precaution while we continue to investigate a security incident," the airport said in a social media post.
“Passengers will not be able to enter the South Terminal while this is ongoing. The safety and security of our passengers and staff remain our top priority. We are working hard to resolve the issue as quickly as possible.”
Train and bus services that serve the airport were also impacted while the police carried out their inquiries.
In an unrelated incident in south London on Friday morning, the US Embassy area in Nine Elms by the River Thames was the scene of a controlled explosion by Scotland Yard dealing with what they believe may have been a “hoax device”.
“We can confirm the 'loud bang' reported in the area a short time ago was a controlled explosion carried out by officers,” the Metropolitan Police said in a post on X.
“Initial indications are that the item was a hoax device. An investigation will now follow. Some cordons will remain in place for the time being but the majority of the police response will now be stood down,” it added.
