No Make in India for Tesla, COVID cases rise | Hook News Wrap

Tesla isn’t interested in making in India. According to Heavy Industries Minister HD Kumaraswamy, Elon Musk-led American electric vehicles maker Tesla isn’t keen on manufacturing in India. However, the minister added that the EV maker is interested in setting up stores in the country. Interestingly, US President Donald Trump has often said it would be unfair if Tesla established a manufacturing base in India.

India–US trade deal talks

India’s Commerce Minister Piyush Goyal has said that both nations desire to grant preferential market access to each other’s businesses. Goyal, who is currently in France on an official visit, added that teams from India and the US are working together on the proposed bilateral trade agreement.

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COVID update

The number of active COVID cases in India has inched closer to 4,000 as of 8 AM on Monday morning. In the past 24 hours, India recorded over 200 new active cases, with Delhi seeing the sharpest spike, followed by West Bengal. During this period, the number of COVID-related deaths stood at four.

Heavy rains in Northeastern states

Heavy rains continue to wreak havoc across India’s Northeast. As a result, Assam, Manipur, Tripura, Sikkim, and Arunachal Pradesh are experiencing floods, landslides, and rising river levels. According to the Assam State Disaster Management Authority, over 3.6 lakh people across 19 districts have been affected in the state. Relief and rescue operations are underway throughout the region.

Plea against Assam’s pushback

The Supreme Court has refused to hear a plea against the Assam government’s policy to push back alleged Bangladeshi infiltrators. The plea had accused the Assam government of launching an indiscriminate campaign to detain and deport people on suspicion of being foreigners without following proper norms. The Supreme Court asked the petitioners to move the Gauhati High Court while refusing to entertain their plea.

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Indian equities in the red

Indian equities recovered from the day’s lows but still started the week in the red. The Sensex ended the session almost unchanged at around 81,400, while the Nifty closed just above 24,700. Investors remained jittery as US President Donald Trump announced he will double the existing 25 per cent tariffs on steel and aluminum imports.