Devendra Fadnavis's Sales Pitch For Elon Musk's Tesla: 'Explaining Why Maharashtra Is The Best'
Fadnavis’ remarks came a day after reports emerged that Tesla has reportedly finalised the location for its first showroom in India.
Maharashtra Chief Minister Devendra Fadnavis on Friday said that Maharashtra would be the best investment destination for Elon Musk-led electric vehicle firm, Tesla in India.
While speaking at the Moneycontrol Global Wealth Summit 2025 in Mumbai, Fadnavis said, “We also hope Tesla to come. If they ask us, then we will say the best case is Maharashtra for investment."
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Tesla To Open First Showroom In Mumbai?
Fadnavis’ remarks came a day after reports emerged that Tesla has reportedly finalised the location for its first showroom in India. As per the registration papers, the electric carmaker has signed a lease deal to open its showroom in Mumbai, Reuters reported.
The showroom, reportedly company’s first in India, will be situated in the Maker Maxity building in the business and retail hub of Bandra Kurla Complex (BKC) near Mumbai airport, the report said.
As per the papers, Tesla has signed a five-year lease from February 16, 2025 and will pay rent of about $446,000 (around Rs 38,872,030) for the first year for a 4,003 square feet (372 square meter) space, almost the size of a basketball court.
Fadnavis On Competition Among States For Investment
While acknowledging competition among Indian states for investment, Fadnavis maintained a broad perspective, saying, “If Gujarat develops, then I am happy. If Karnataka develops, then also I am happy. After all, investment is coming into India," he said.
However, he highlighted Maharashtra’s dominance in attracting foreign direct investment (FDI) and its growing role as a fintech and startup hub.
Will Turn Maharashtra Into $1 Trillion Economy
The Chief Minister further expressed confidence that his government will turn Maharashtra a $1 trillion economy by 2030. He said that Maharashtra is the only state in the country to surpass the half-a-trillion dollar economy milestone.
“Maharashtra has the power to attract investments, we are trying to leverage that," Fadnavis said.
He highlighted a shift in entrepreneurial trends, with Mumbai emerging as a preferred base for startups over Bengaluru.
“There was a time when entrepreneurs founded their startups in Mumbai and then moved to Bangalore. Now we are seeing reverse migration happening," he said.
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