Timor-Leste’s President José Ramos-Horta, a co-recipient of the 1996 Nobel Peace Prize, will be on his first-ever visit to India in his current capacity….reports Asian Lite News
The upcoming Vibrant Gujarat Summit 2024 is set to host a number of global leaders, including Timor-Leste’s President José Ramos-Horta and Czech Republic Prime Minister Petr Fiala. The biennial event, initiated by Indian Prime Minister Narendra Modi in 2003 as the then-chief minister of the Gujarat state, has grown into a crucial platform for policymakers, investors, and business leaders to foster collaborations and explore investment opportunities.
Timor-Leste’s President José Ramos-Horta, a co-recipient of the 1996 Nobel Peace Prize, will be on his first-ever visit to India in his current capacity. His visit reflects the strengthening diplomatic ties between the two nations. Last year, India’s announcement of establishing an embassy in Timor-Leste’s capital, Dilli, during the ASEAN-India Summit represented a significant milestone. The announcement was made at the ASEAN-India Summit in Jakarta on September 7, 2023, by PM Modi.
In October, India’s Minister of State for External Affairs, Dr Rajkumar Ranjan Singh, made the first ministerial-level visit from India to Timor-Leste since 2018. During the trip, he held meetings with President Jose Ramos-Horta, Prime Minister Kay Rala Xanana Gusmao, Foreign Minister Bendito Dos Santos Freitas, and Trade Minister Filipus Nino Pereira. India, having established early diplomatic relations with Timor-Leste, has been proactive in fostering economic cooperation. The Duty Free Tariff Preference (DFTP) Scheme for Least Developed Countries (LDCs) includes duty-free access to products from Timor-Leste, promoting trade and economic growth.
Czech Republic Prime Minister Petr Fiala’s participation in the Vibrant Gujarat Summit builds on the momentum established during the 2019 visit by then-prime minister Andrej Babis for the same mega investors meet. The bilateral economic relations between India and the Czech Republic have flourished since the Czech Republic’s entry into the European Union in 2004. Diversified interactions and new mechanisms have propelled bilateral trade to over US $3.16 billion in 2022, a remarkable increase from US $86 million in 1993.
Tesla India launch in pipeline, says minister
Gujarat’s industry minister, Balvantsinh Rajput, categorically said on Friday that high-level talks are going on for potential investment from Elon Musk-owned electric vehicle maker Tesla.
“I want to state that Tesla is in the pipeline, the minister said in response to reporters’ questions at a presser.
“Quite a few companies are in touch. Talks are going on at higher levels, and we are positive,” the minister added.
Weighing in on the Tesla investment matter, SJ Haider, Additional Chief Secretary, Industries and Mines Department, said, “We have more than 20 investor policies and we are a policy-driven state. We have policies for semiconductors, IT, and electronics. We assist within the rules and regulations of the policy.”
Tesla Chief Executive Elon Musk in June last year that he was planning to visit India in 2024, adding that he was confident that the electric carmaker will be in India and will do so “as soon as humanly possible.”
He had told reporters in New York, following a meeting with Prime Minister Narendra Modi, who was in a historic four-day State visit to the US.
Musk had said that PM Modi invited him to India.
“I would like to thank PM Modi for his support and hopefully, we will be able to announce something in the future,” Musk had said.
Tesla has been interested in investing in India but “high import duty” structures apparently were a bone of contention. Musk had reportedly requested India to lower taxes and also allow the company to first sell vehicles built elsewhere at a competitive price. Import duty in India is 25 to 100 per cent on completely built unit (CBU) vehicles.
In November 2023, Union Minister for Commerce and Industry Piyush Goyal visited Tesla’s manufacturing facility in California’s Fremont and said that the US electric car maker is on its way to double its components imports from India.
Goyal had stressed that he was proud to see the growing importance of auto component suppliers from India in the Tesla EV supply chain. (ANI)
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