Tesla is eyeing India — but a rival says that's 'good for the industry'

• Tesla has reportedly been considering building a new factory in India, the world's third-largest car market.
• MG Motor India executive Rajeev Chaba told CNBC the move could boost India's EV market. 
• Only a fraction of vehicles sold in India are electric, but that could be about to change. 

Tesla has been eyeing an expansion into India — and one local auto executive thinks it'll be good for business.

MG Motor India's CEO Emeritus Rajeev Chaba told CNBC that Tesla's potential entry into the Indian market could help boost the country's low rate of EV adoption.