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Elon Musk Resumes Plans to Visit India Following Talks with Prime Minister Narendra Modi

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Elon Musk, the CEO of Tesla, has revived plans to visit India later this year following a recent conversation with Indian Prime Minister Narendra Modi. This signals potential forward movement for Tesla’s long-anticipated expansion into India, a country that remains one of the world’s most promising markets for electric vehicles (EVs). Musk revealed his plans for the visit in a post on X, the social media platform he owns, after the discussion with Modi on Saturday.

Musk’s initial trip to India was scheduled for the previous year but was abruptly postponed due to what he described as urgent matters at Tesla. This delay only added to the anticipation surrounding Tesla’s entry into the Indian market, which has faced several hurdles in recent years. With India’s large population and growing interest in sustainable technologies, Musk’s trip could be a crucial step toward resolving these issues and solidifying Tesla’s presence in the country.

The timing of Musk’s visit comes at a critical juncture for both Tesla and its CEO. Globally, Tesla has been facing mounting challenges, including increased competition in the EV market. Rivals like Chinese automaker BYD have gained traction with aggressive pricing strategies, making it harder for Tesla to maintain its dominance. Furthermore, Musk’s association with former US President Donald Trump has polarized some potential customers, further complicating Tesla’s efforts to expand its market base. Tesla’s struggles are also exacerbated by trade tensions, with tariffs leading to a halt in the sales of certain Tesla models in China, one of its key markets.

Given these global challenges, Musk and Tesla are under pressure to find new markets to sustain growth, and India presents a significant opportunity. The Indian government’s push for clean energy and sustainable mobility aligns with Tesla’s goals, making the country an attractive target for expansion. However, discussions over issues like import duties and commitments to local manufacturing have previously stalled progress. Musk’s visit could potentially break these deadlocks, allowing Tesla to finally make inroads into India’s rapidly growing EV market, which has a burgeoning middle class eager for new, clean transportation options.

Hedge Funds Rapidly Exit Tech Stocks Ahead of U.S. Tariff Deadline, Goldman Sachs Reports

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Hedge funds have been unloading tech stocks at their fastest pace in six months, marking the largest tech-sector exodus in five years, according to a Goldman Sachs note released Friday and seen by Reuters on Monday. The move comes just ahead of the April 2 tariff deadline announced by U.S. President Donald Trump, which has sparked widespread market uncertainty and fears of an economic downturn.

According to Goldman Sachs’ prime brokerage desk — which tracks hedge fund activity — the information technology sector, including the “Magnificent-7” tech stocks, was “by far the most net sold” last week. Both long positions (bets that prices will rise) and short positions (bets on a decline) in tech stocks were rapidly closed, reflecting a strong pullback across the board.

Analysts at Edmond de Rothschild linked this abrupt sell-off to the anticipated tariffs on copper and other raw materials, which are expected to weigh heavily on tech manufacturers and AI-related hardware producers.

A separate note from Morgan Stanley revealed that hedge funds are increasingly betting against some of the sector’s biggest names. Nvidia, AMD, and Tesla were identified as the top three short positions as of Wednesday.

Goldman said that around 75% of last week’s hedge fund selling activity was concentrated in U.S. tech stocks, particularly those connected to AI hardware development. Total hedge fund exposure to tech is now at a five-year low, despite heavy buying just a few weeks ago in mid-March.

Another dataset from JPMorgan noted a reversal of positions by hedge funds last week, possibly influenced by strong retail investor activity. This surge in retail buying may have triggered a short squeeze, forcing some bearish investors to unwind their positions as stock prices climbed unexpectedly.

“With the tariff news, it was interesting that hedge fund flows and positioning might suggest they’re already somewhat prepared—at least in terms of key areas that have been in focus,” said JPMorgan in its client note.

As the April 2 deadline looms, hedge funds appear to be bracing for volatility, shifting away from one of the market’s most lucrative sectors in recent years.

India Criticises X for Labeling Compliance Website a “Censorship Tool”

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India has sharply criticized Elon Musk’s X for referring to an official government website as a “censorship portal.” The site is intended to help tech companies quickly address harmful online content. This dispute escalates tensions between X and the Indian government, particularly as Musk prepares to expand his ventures, Starlink and Tesla, in the country.

The controversy began after X filed a lawsuit in March 2025, challenging the Indian government’s initiative. India’s Ministry of Information Technology responded by calling the use of the “censorship” terminology “unfortunate and condemnable.” The ministry further argued that the concerns raised by X were groundless, stating that the website’s purpose was to notify companies about their due diligence obligations, not to issue content-blocking orders.

X, however, claims that the website allows government officials to easily remove content and that India’s new system unlawfully broadens censorship powers. The conflict highlights growing tensions over content regulation as tech companies navigate varying international laws.