Symbolic entry

Unlike Apple, Tesla's India debut is a half-hearted one, partly due to a cumbersome EV policy

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After years of speculation, lobbying and negotiations, Tesla has finally entered India, albeit not in the manner the government would have wanted. Much like its approach with Apple, the government hoped to woo the US electric vehicle (EV) giant into establishing a manufacturing base in India, positioning the country as a global production hub. But Tesla, unlike Apple, resisted it, pushing instead for a reduction in import duties as a precondition to testing the waters. The Apple comparison is instructive. Both are iconic US-based companies with deeply entrenched manufacturing footprints in China. Apple began its India production journey around five years ago, on the back of the government's production-linked incentive scheme. That bet has paid off handsomely. In FY25, India now accounts for nearly 20% of global iPhone production, roughly 40 million units valued at $22 billion. Of these, about 80% were exported to key markets like the US and Europe. Apple CEO Tim Cook even declared that a majority of iPhones sold in the US this pa