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Tesla To Ramp Up India Presence With 1st Full-Fledged Centre This Month
New Delhi: Electric car-maker Tesla is set to bolster its India presence with the opening of its first full-fledged centre in Gurugram this month, marking a key milestone in its bid to expand volumes and retail visibility in a market dominated by European luxury EV makers.
The move comes at a time when the US carmaker is facing stiff headwinds globally — from slowing demand in China to cautious investors back home — pushing India higher on its strategic priority list. The Gurugram centre follows the launch of experience centres in Mumbai and Delhi earlier this year.
India became Tesla’s 50th global market after it introduced two variants of the fully imported Model Y, priced from Rs 59.89 lakh onwards. With a 70 per cent import duty, the India-bound Model Y is among the most expensive anywhere in the world, around 30 per cent higher than its US price tags.
Yet, notwithstanding the premium pricing, early traction has been remarkable. Data from the Federation of Automobile Dealers Association reflects that Tesla registered 104 units in retail during September and October, as registered on the Vahan portal.
The company is now banking upon its new India head, Sharad Agarwal, to build momentum. Agarwal, who took charge last November, brings nearly a decade of experience in the luxury automotive space, having led Lamborghini India and served as head of sales at Audi India.
His appointment signals Tesla’s intent to push deeper into a market where German rivals Mercedes-Benz and BMW currently command almost 80 per cent of luxury EV sales.
The timing is crucial. Tesla’s global sales grew just 7 per cent year-on-year to 4,97,100 units in the September quarter, while its China deliveries dropped to a three-year low of 26,006 units in October amid rising competition and cooling demand.
Competition in the premium EV field is getting increasingly crowded, with Tesla’s main rivals in India being the BMW iX1, Mercedes-Benz EQA, Volvo EC40, Kia EV6, and BYD Sealion 7 in a segment that recorded sales of 460 to 480 units in October alone.
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‘A win-win for both nations!’ Three-day India-US trade talks to begin this week – The Times of India
India and the United States are set to resume trade talks this week, taking a “great step to finalize” the proposed agreement. Taking to social media platform X, US Ambassador to India Sergio Gor said “The Indian trade delegation will be arriving in Washington this week. A great step to finalize our bilateral trade deal. A win-win for both nations!”This week, a delegation of around a dozen officials will be travelling from New Delhi to Washington for discussions on the first phase of the proposed bilateral trade agreement (BTA). The talks are scheduled from April 20 to 22 and will be led by India’s chief negotiator Darpan Jain, additional secretary in the department of commerce. The team will also include officials from the customs department and the ministry of external affairs.The negotiations come against the backdrop of recent changes in the US tariff system, prompting both sides to revisit parts of the trade agreement finalised earlier this year and released on February 7.A key development was the US Supreme Court striking down reciprocal tariffs imposed under the 1977 International Emergency Economic Powers Act. Following this, the US administration introduced a temporary flat 10% tariff on all countries for 150 days from February 24.These changes led to the postponement of a planned February meeting between the chief negotiators. The rescheduled talks in Washington will now proceed under the revised tariff framework.Alongside tariff issues, the discussions are also expected to cover two investigations initiated by the US Trade Representative under Section 301 of its trade law. India has refuted the allegations and is seeking withdrawal of the probes, arguing that the initiation notices do not provide adequate justification.
Energy markets have seen wild swings since the US and Israel attacked Iran on 28 February.
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Gold and silver prices declined in both international and domestic markets, reflecting a broader downward trend in precious metals.
In the international bullion market, the price of gold fell by $49 per ounce, settling at $4,788.
According to the All-Pakistan Gems and Jewellers Sarafa Association (APGJSA), in the local market, gold prices also recorded a significant drop. The price per tola decreased by Rs4,900 to reach Rs501,162. Similarly, the price of 10 grams of gold declined by Rs4,201, settling at Rs429,665.
Silver prices also followed a downward trajectory. The price per tola of silver fell by Rs145 to Rs8,417 while the price of 10 grams of silver dropped by Rs124, reaching Rs7,216.
Read More: Gold, silver prices rise again in local and international markets
Gold and silver prices recorded an increase on Saturday in both international and local markets after declining on Friday, following a three-day upward trend in global and domestic markets.
According to the All Pakistan Sarafa Gems and Jewellers Association (APSGJA), in the international bullion market, the price of gold rose by $45 per ounce to reach $4,837. In the local market, the price of gold per tola increased by Rs4,500 to Rs506,062, while the rate for 10 grams rose by Rs3,858 to Rs433,866.
Silver prices also moved higher, with the per tola rate increasing by Rs118 to Rs8,562. Similarly, the price of silver per 10 grams rose by Rs101 to Rs7,340.
‘A win-win for both nations!’ Three-day India-US trade talks to begin this week – The Times of India
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