5 reasons why it's so hard to crack into the Indian market

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India's gearing up to be the new China, but even Elon Musk is finding it hard to crack into the market. Here are 5 reasons why.

the Indian government to slash import taxes on EVs before it agrees to start selling in the market.in July 2021, Musk wrote that India's import duties are"the highest in the world by far of any large country!"

But given the huge Indian market, Tesla isn't giving up."I am confident that Tesla will be in India and will do so as soon as humanly possible," As a large economy with a young population, India has the potential to be a manufacturing powerhouse. But the South Asian country is also infamous for its bureaucracy and red tape.

"It's far from a place where businesses can simply come in and open a shop without having too many company compliances," Ashutosh Sharma, a research director at market researcher Forrester,

 

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