Elon Musk's BIG India move as his company is set to launch first store in the country, has this Mukesh Ambani, Nita Ambani link...

Elon Musk plans to open Tesla's first store in India in Mumbai. According to Reuters, the first store will open on July 15 at Jio World Drive in Mumbai, marking a significant milestone in the company's entry into the Indian market.  A deal for the 4000 square foot retail space was inked in March by the US-based electric vehicle manufacturer and another vehicle manufacturer. According to the reports, the Bandra Kurla Complex in Mumbai will host the opening of the Tesla center.  Additionally, this center will be the first physical location for the Musk-led corporation in India.

According to Reuters, Tesla had already inked a lease agreement to open its first showroom in Mumbai earlier in March in order to begin selling in India.   The EV manufacturer also increased hiring and scouting for showroom locations in Mumbai and New Delhi as part of its foray into the Indian market.

Five Model Y cars have reportedly already reached Mumbai from Tesla's Shanghai, China, factory, according to a Bloomberg story.

Over 2.1 million rupees in import tariffs were applied to the cars, which were valued at 2.77 million rupees ($31,988) when they were declared.  The high tariff follows India's 70% import tax on fully-built automobiles.

For many years, Tesla has been preparing to enter the Indian market.  The Elon Musk company's main goal throughout these negotiations was to advocate for reduced import taxes.

 Even though Tesla announced the launch of its operations in India, the electric car manufacturer is apparently "not keen" on producing parts there.

 Last month, Union Minister for Heavy Industries HD Kumaraswamy told news agency ANI that Tesla's primary goal is to increase the number of its stores in the nation.

"Tesla, we are not actually expected from them, they are only to start showrooms. They are not interested in manufacturing in India," the minister was quoted as saying by news agency ANI.