Siddharth Jain, executive director of the Inox Group, has made headlines by becoming the first businessman in India to buy a Tesla after the electric carmaker’s official entry into the country this July. Jain, who belongs to one of India’s well-known business families, received a stealth grey Tesla Model Y and proudly called it “India Inc’s first Tesla.” His excitement was clear when he shared pictures with the car on X, dedicating the moment to Elon Musk and describing it as a dream he
had been waiting to fulfil since his visit to Tesla’s Fremont factory in California eight years ago. “This one’s for you, Elon Musk!” he said. He also said he had been waiting for this moment since 2017, when he visited Tesla’s Fremont factory in California. “Dreams do come true,” he added. Earlier, Elon Musk had congratulated Jain for buying the car. The social media post reached 32.1 million impressions.
Who is Siddharth Jain?
Jain is part of the Inox Group, a business conglomerate with interests in industrial gases, renewable energy, and entertainment. As an executive director, he is among the younger generation of leaders steering the family business. His recent Tesla purchase has drawn public attention, with social media users praising both the achievement and the enthusiasm he displayed.
Siddharth Jain's net worth and family business
The Inox Group, founded in 1923, has built significant presence in industrial gases through Inox Air Products, in renewable energy via Inox Wind, and in multiplex cinema operations under Inox Leisure, which later merged with PVR. While Siddharth Jain’s personal net worth has not been publicly disclosed, the group companies together represent a multi-billion-dollar enterprise in India’s business landscape.
Tesla’s entry into India
Tesla opened its first Indian showroom in Mumbai’s Bandra Kurla Complex in July, followed by another at Delhi’s Indira Gandhi International Airport. Deliveries began in early September in select cities including Mumbai, Delhi, Pune and Gurugram
The Tesla Model Y, imported from the Shanghai Gigafactory, is priced at ₹61.07 lakh in Mumbai and ₹66.76 lakh in Gurugram. The higher cost compared to the United States is due to India’s 110 per cent import duty on fully built cars priced above $40,000.
The first Tesla delivery in India
Although Jain has called himself the first buyer from corporate India, Tesla’s first ceremonial delivery was to Maharashtra Transport Minister Pratap Sarnaik earlier this month at its Mumbai Experience Centre.
Bloomberg reported that Tesla has received around 600 orders since July and is expected to deliver between 350 and 500 vehicles this year. At present, electric vehicles make up about 4 per cent of India’s auto sales. Heavy Industry Minister HD Kumaraswamy has said there are no immediate plans for Tesla to begin local manufacturing.
Source Name : Economic Times