- The government formed a NITI Aayog task force to revive Formula One in India and develop motorsports
- The task force will assess taxation, regulatory challenges, and infrastructure needs for motorsports growth
- It will evaluate economic, tourism, investment benefits of hosting international motorsport events in India
The government has set up a task force under NITI Aayog to explore the revival of Formula One in India and develop a broader roadmap for the country's motorsports, including addressing taxation and other regulatory challenges.
The task force will identify challenges facing the sector and work towards a coordinated roadmap for its development. It will also undertake a comprehensive assessment of taxation-related issues and other challenges affecting the growth of motorsports in the country.
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Task Force To Assess Economic, Tourism Benefits
The task force will assess the potential international, economic, tourism and investment benefits of hosting motorsport events in India. It will also identify key priorities, infrastructure requirements and operational needs required for the sustainable development of the sector.
In order to assist the expansion of motorsports in India, the task force will assess the necessity of a thorough policy framework and suggest appropriate Public-Private Partnership (PPP) models as part of its mandate.
Yugal Kishore Joshi, PD (YAS), NITI Aayog, is the chair of the Task Force for the Formula One Grand Prix feasibility study.
Kunal, Joint Secretary, Department of Sports; Joint Secretary, Department of Commerce; Joint Secretary, Ministry of Tourism; representatives from CBIC and CBDT, Department of Revenue; representatives from the governments of Uttar Pradesh and Maharashtra; and representatives from the Buddh International Circuit (BIC) and Madras International Circuit (MIC) are among its members.
The task force also includes the President/Secretary General of the Federation of Motor Sports Clubs of India (FMSCI), a technical expert nominated by FMSCI, and any other member co-opted by the chairperson based on requirements.
Formula 1 May Return To Buddh International Circuit
Nearly 13 years after Formula 1 last roared around the Buddh International Circuit in Greater Noida, the sport could be on its way back to India, with the government now exploring a possible return.
Earlier this year, Union Sports Minister Mansukh Mandaviya visited the Buddh International Circuit, fuelling speculation that India could once again host the Indian Grand Prix.
The circuit hosted the Formula 1 race for three consecutive years from 2011 to 2013. The inaugural Indian Grand Prix was held on October 30, 2011, as the 17th round of that season, with Red Bull Racing's Sebastian Vettel taking the chequered flag.
Vettel went on to win the Indian Grand Prix in all three editions held at the Buddh International Circuit.
The race has not returned to India since 2013, leaving the circuit without a Formula 1 event for more than a decade.
India's Motorsport Return
Apart from Formula 1, India also hosted a MotoGP round at the Buddh International Circuit in September 2023. However, the MotoGP races have not returned to the circuit since then.
The formation of the NITI Aayog task force marks the latest step towards assessing the feasibility of bringing Formula 1 back to India and developing the country's wider motorsports ecosystem.
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