The Indian government is making fresh efforts to bring Formula One back to the Buddh International Circuit situated on the outskirts of New Delhi in 2028, more than a decade after the race was last held in the country.
India hosted its first Formula One Grand Prix in 2011, but the event was dropped after the 2013 edition because of tax and regulatory issues.
To revive the race, union sports minister Mansukh Mandaviya recently held a meeting with key stakeholders, including representatives of the Adani Group, which is expected to take over the circuit, and officials from India’s motorsports federation. He also announced that a special task force would be formed to work on Formula One’s return.
According to a source in the sports ministry, resolving tax and regulatory challenges will be one of the task force’s top priorities.
“The task force will look into the issues affecting the revival and growth of motorsports in India, including Formula One. Its focus will be on taxation, regulations, infrastructure and other policy measures,” the source told Reuters.
The panel will also include representatives from India’s tax authorities, while the government’s top policy think tank has been asked to coordinate with different ministries to help speed up the process and reduce bureaucratic delays.
The Adani Group is yet to make any comment on the development. However, Karan Adani, managing director of Adani Ports & Special Economic Zone (APSEZ), has previously said he is “personally engaged” in efforts to bring Formula One back to India.
Formula One CEO Stefano Domenicali has also expressed interest in returning to India, but said several important steps still need to be completed before that can happen.
“There are the right things that we need to do – to again find the right promoters, the right collaboration and the right timing. It won’t happen in the very short term,” Domenicali told FanCode last month.
