Last month, the tech billionaire had said he would not visit India amid Tesla's quarterly results, as he had delayed his trip to the end of the year to announce his investment plans.
"Everyone talks about one company (Tesla), but we are expecting a response from multiple companies on that policy," Singh said at CII's annual business summit in the national capital.
The new EV policy was announced in March, where the government reduced the customs duty to 15 percent with certain conditions.
It required a minimum investment of Rs 4,150 crore to set up EV manufacturing facilities, start production within three years and reach 25 per cent DV (domestic value addition) within three years and a maximum of 50 per cent DVA within five years.
The new EV policy paved the way for Musk and other automakers to enter the Indian EV market.
According to experts, the EV market in the country could reach over 40 percent by 2030 with a revenue of $100 billion.
The country is also making rapid progress in setting up EV charging infrastructure to phase out diesel vehicles within a stipulated time frame.
"Everyone talks about one company (Tesla), but we are expecting a response from multiple companies on that policy," Singh said at CII's annual business summit in the national capital.
The new EV policy was announced in March, where the government reduced the customs duty to 15 percent with certain conditions.
It required a minimum investment of Rs 4,150 crore to set up EV manufacturing facilities, start production within three years and reach 25 per cent DV (domestic value addition) within three years and a maximum of 50 per cent DVA within five years.
The new EV policy paved the way for Musk and other automakers to enter the Indian EV market.
According to experts, the EV market in the country could reach over 40 percent by 2030 with a revenue of $100 billion.
The country is also making rapid progress in setting up EV charging infrastructure to phase out diesel vehicles within a stipulated time frame.
