Tesla to invest in India but with a condition that it should provide employment opportunities to Indian youths- PM MODI

National - Prime Minister Narendra Modi, during an interview with a news agency, asserted he wants American electric car manufacturer, Tesla to invest in India but with a condition that it should provide employment opportunities to Indian youths. 
"I want investment to come in India. It doesn't matter who has invested money, but the sweat put into the work must be from our own people. The product should have the essence of our soil, so that our youth in the country will get employment opportunities," PM Modi said, during an interview with ANI. 
Notably, Modi's response came days after the Institute for Human Development (IHD) and International Labour Organisation (ILO) released a report titled- 'India Employment Report 2024', which highlighted the country's soaring employment rate. As per the report, almost 83 per cent of the unemployed workforce and the share of youngsters with secondary or higher education in the total unemployed has almost doubled from 35.2 per cent in 2000 to 65.7 per cent in 2022.Also, his statement came on the same day when a media report claimed Tesla would lay off more than 10 per cent of its global workforce. According to an internal memo seen by Reuters on Monday, the EV manufacturer grapples with falling sales and an intensifying price war for electric vehicles. The world's largest automaker by market value had 1,40,473 employees globally as of December 2023, its latest annual report shows. The memo did not say how many jobs would be affected. However, when the Prime Minister was asked about Musk publicly acknowledging that the latter was a fan of Modi, he soft-pedalled the question and asserted "Musk is a supporter of India". "Look, the first thing saying that Elon Musk is a supporter of Modi is one thing, basically, he is a supporter of India. And I just met him. It's not like that," he said.