Tesla CEO Elon Musk on Saturday confirmed that his trip to India will be postponed, saying that he looks forward to visiting the country later this year.

In response to reports of the postponement of his visit to India, Musk took to social media platform X to explain, "Unfortunately, very heavy Tesla obligations require that the visit to India be delayed, but I do very much look forward to visiting later this year."

Musk, who was slated to meet with Prime Minister Narendra Modi during his visit to India, had previously expressed his anticipation, stating on X, "Looking forward to meeting with Prime Minister @NarendraModi in India!"

The visit was eagerly awaited as Musk was expected to unveil Tesla's plans for the Indian market. Reports had circulated earlier regarding Tesla's exploration of potential manufacturing sites in India, with estimates suggesting an investment of around USD 2 billion. Both Maharashtra and Gujarat had reportedly offered attractive land deals to Tesla for this purpose, signaling significant strides in India's electric mobility sector.

The proposed manufacturing facility, with projected investments ranging from USD 2 billion to USD 3 billion, aims to cater to both domestic and international demand for Tesla's electric vehicles. This move aligns with India's EV policy, which aims to promote sustainable transportation and reduce carbon emissions.

Under the government's EV scheme, which seeks to position India as a preferred destination for manufacturing advanced EVs, objectives include attracting investments from global manufacturers like Tesla, promoting advanced EV technology adoption, and bolstering the Make in India initiative.

Tesla's entry into the Indian market is expected to have far-reaching economic and environmental benefits. The establishment of a manufacturing plant and increased procurement of auto parts from India are anticipated to generate employment, stimulate economic growth, and fortify the domestic manufacturing ecosystem.