Formula 1 and Formula One Management (FOM) are said to be interested in returning to India, as the sport continues to push its global outreach.
Previously, the Buddh International Circuit, near Delhi held the Indian Grand Prix from 2011 through 2013, but the race dropped off of the F1 calendar thanks to a taxation dispute.
Government officials decided to impart taxation on the event and a melting pot of logistical, financial and bureaucratic issues put the Indian GP on ice.
However, reports from F1 journalist Joe Saward indicate that FOM is keen to return to India in the near future.
This tallies with FOM’s overall objective of increasing the number of races on the F1 calendar to generate profit from interested regions across the globe – see Miami, Las Vegas, Qatar and Saudi Arabia for reference.
Foreign Affairs listed India as the world’s fifth-largest economy in September 2023 and the nation has overtaken China (which is getting an F1 revival this year after several delays) as the world’s most populous nation at around 1.43 billion inhabitants.
India’s economic status and large population bed will certainly be an intriguing prospect to FOM and MotoGP’s debut Indian GP at the Buddh circuit served as a revival of interest for world motorsport in the region.
Still, there are factors at play that continue to plague efforts to launch India’s motorsport efforts.
Racing Promotions Private Limited (RPPL) is hard at work trying to revitalise India’s motorsport efforts, launching a Formula 4 series and vying to get a Formula Regional championship underway as well.
However, hurdles have been laid at RPPL’s door.
The ill-fated Hyderabad E-Prix was a product of RPPL, but after its 2023 debut, Formula E had to terminate its multi-year agreement with the city after the newly elected Government of Telangana failed to uphold its Host City Agreement signed on 30 October 2023.
That decision came just weeks before a February 10 race was planned and has left a seven-week gap in the 2024 Formula E calendar.
Despite the sad cancellation of the Hyderabad event, its inaugural running proved positive for the region, generating $84 million for the region and was brought about with staunch support from the Federation of Motor Sports Clubs of India.
RPPL then suffered another setback thanks to mother nature amid its planned introduction of a Formula 4 night race on a new 2.3-mile street circuit in the city of Chennai’s Island Grounds.
The event, slated to be held on December 09-10 was postponed a year after Cyclone Michaung brought heavy flooding to Chennai on December 03 and 04.
Chennai’s street race was the product of a deal struck between RPPL, the Sports Development Authority of Tamil Nadu and the Greater Chennai Corporation, but following the postponement, the High Madras Court ruled on Monday, February 19 that RPPL must reimburse $5 million to the state government and pay a further $3.6 million across the next two years in order to ensure the race continues to go ahead.
Hurdles are also at FOM’s door if it wishes to solidify plans for an Indian Grand Prix.
The 2024 F1 calendar is at a record 24 races, with the current concorde agreement limiting the calendar to a maximum of 25 races.
There’s a growing interest for races in Chicago, Turkey and South Africa and the addition of interest in India means that despite the fact some circuits are set to have contracts expire in a few short years, FOM may require the next concorde agreement to see the 25 race limit expanded.
That raises issues of a financial degree between FOM and FIA, two parties in a constant state of disagreement of late.
However, it’s not all doom and gloom regarding an Indian GP reprisal.
In January, reports stated that the Gujarat Sports Authority was exploring an F1 project of its own with a feasibility study in GIFT City to determine whether an event could be prepared in time for 2028.
Time will tell whether F1 and India can make good on their mutual interest.
Discussion about this post