This industrialist thinks Elon Musk will not succeed in India. Here's why

Industrialist backs domestic manufacturers, calls India a great platform for entrepreneurs

Chairman and Managing Director of JSW Group Sajjan Jindal dismissed Tesla CEO Elon Musk’s likelihood of success in the Indian market, while expressing strong confidence in India’s business environment. Speaking at the Ernst & Young Entrepreneur of the Year awards on Wednesday, he joked that while any willing entrepreneur had the potential to succeed in India, tech billionaire Musk could not.

 

India has the best platform for entrepreneurs: Jindal

Jindal, who is expanding into the automobile sector, emphasised India’s potential for entrepreneurs, stating, “I don’t think any country in the world provides the kind of platform India does.” He asserted that success in India is open to all, adding, “No one can stop you from being successful."

   

Speaking about his automotive ambitions, Jindal said he is committed in the sector. “I’m putting my heart and soul into the auto business, and I’m 100 per cent sure it will be super successful; there’s nothing that can stop me. This country needs a huge amount of autos, huge amounts of good quality stuff,” he said.

 

Musk cannot succeed in India: Jindal

When asked about Musk’s potential in the Indian market, Jindal was dismissive. “Elon Musk is not here. He is in the US,” he remarked, before asserting, “He cannot be successful in this country.”

 

Comparing Tesla to Indian automakers, Jindal said, “We Indians are here. He cannot produce what Mahindra can do, what Tata can do. It’s not possible. He can do (it) under Trump’s shadow, in the US.”

 

He acknowledged Musk’s business success stating, “He’s super smart, there is no question about it. He’s a maverick, doing spacecraft and all that. He’s done amazing work, so I don’t want to take anything from him.” However, he added, “To be successful in India is not an easy job.”

 

Jindal’s comments come as his company expands its footprint in the auto sector with a joint venture with Chinese automaker SAIC to produce cars under the MG Motor brand and is planning to launch a fully owned electric vehicle (EV) brand.

 

Tata, Mahindra EV prices are competitive: Amitabh Kant

Last week, India’s G20 Sherpa and former NITI Aayog CEO Amitabh Kant also raised doubts on Tesla's probable dominance in India’s EV market. Speaking at the Business Standard’s flagship event BS Manthan, he said, “Tatas and Mahindras will not allow Tesla to succeed, their prices are very competitive,” Kant said. He also revealed that he himself had switched to EV, “I drive an EV and have just booked a Mahindra EV.”   

Kant also championed India as EV manufacturing supplier and called on the public to switch to EVs. “Every Indian should move to an EV, and the government should not buy any fossil fuel cars,” he said. 

Tata and Mahindra EVs will give Tesla a run for its money: Amitabh Kant

 

Tesla’s India push: Showroom booked, hiring begins

These comments come at a time when Tesla is actively preparing for its entry into the Indian market. The EV giant has signed a lease for a 4,003-square-foot showroom in Mumbai’s Bandra Kurla Complex, a prime business hub. The five-year lease, starting in February 2025, will cost Tesla approximately $446,000 in its first year, increasing by 5 per cent annually.

 

The showroom will be located near an Apple retail store at Jio World Drive, owned by billionaire Mukesh Ambani’s Reliance Group.

 

Tesla has also begun hiring key personnel in India, including store managers, service staff, and customer engagement professionals.

 

India tariffs: A major obstacle for Tesla

India’s high import duties remain a major obstacle for Tesla. Currently, fully built imported EVs face tariffs exceeding 100 per cent, significantly raising costs and limiting Tesla’s ability to compete in India’s price-sensitive market.

 

Musk has repeatedly criticised India’s high import tariffs, and US President Donald Trump has also advocated for lower duties on car imports from the US. However, the Indian government remains cautious about reducing tariffs, aiming to protect and strengthen its own EV manufacturing sector. 

Tesla set for India debut, rents space in Mumbai's BKC for Rs 35 lakh/month

 

India must strengthen its global role: Jindal

Beyond the auto industry, Jindal urged India to solidify its position in the global supply chain. Referencing US trade policies under Trump, he said, “Trump will come and go. We need to focus on making India part of the global supply chain.” He emphasised India’s role as a key supplier for global industries, stating, “We are already a very good supply partner for the world. We need to expedite that.”