BLURB
Govt forms NITI Aayog task force to assess Formula One’s revival in India, infrastructure needs and economic benefits for India.
NEW DELHI
The government has constituted a task force under NITI Aayog to examine the revival of Formula One and development of the motorsport’s ecosystem in India. The panel will study challenges facing the sector and formulate a roadmap for its sustainable growth.
The task force will assess taxation-related issues, along with infrastructure requirements for hosting major events. It will also examine the international, economic, tourism and investment benefits of bringing Formula One back to the country. The panel will recommend priorities, a policy framework and Public-Private Partnership models.
The Task Force for Formula One Grand Prix feasibility assessment is chaired by Yugal Kishore Joshi, Programme Director at NITI Aayog. Its members include Kunal, Joint Secretary, Department of Sports; senior officials from the Departments of Commerce and Tourism; representatives from CBIC and CBDT; officials from the Uttar Pradesh and Maharashtra governments; representatives of Buddh International Circuit and Madras International Circuit; and the President or Secretary General of the Federation of Motor Sports Clubs of India. A technical expert nominated by FMSCI and other co-opted members may also join.
The government is considering bringing Formula One back to Buddh International Circuit in Greater Noida, nearly 13 years after the last Indian Grand Prix there. Union Sports Minister Mansukh Mandaviya visited the circuit this year, indicating plans for a revival.
The Indian Grand Prix was held at Buddh International Circuit from 2011 to 2013, with Germany’s Sebastian Vettel winning all three editions for Red Bull Racing. The inaugural race was held October 30, 2011. India also hosted a MotoGP round at the circuit in September 2023, but the event has not returned since. Formula One has remained absent from India since 2013.
