The Indian Grand Prix first took place in 2011 but was discontinued in 2013 after its third edition due to disputes related to regulation and taxation.
Sports Minister Mansukh Mandaviya recently discussed plans with key stakeholders, including potential track owners the Adani Group and officials from the national motorsports federation, announcing that a task force would be established to bring back the race.
Addressing the intricate tax and regulatory challenges will be a primary focus of the committee, according to a ministry source who spoke to Reuters.
“The task force will look into the obstacles hindering the revival and expansion of motorsports in India, particularly Formula One, emphasizing issues related to taxation, regulatory matters, infrastructure, and other policy measures…” the source stated.
The task force will include members from India’s taxation authorities. The government’s top policy advisory body has been assigned the task of facilitating coordination across ministries to streamline processes, the source added.
The Adani Group, which is in the process of acquiring the company that previously operated the track, has not responded to a Reuters request for comment. However, Karan Adani, Managing Director of Adani Ports & Special Economic Zone Ltd (APSEZ), has expressed that he is “personally engaged” in efforts to bring Formula One back to India.
Formula One CEO Stefano Domenicali recently affirmed the organization’s “strong interest” in returning to India but noted that substantial groundwork is required.
“We need to undertake the right steps – to re-establish effective promoters, collaborate effectively, and find the right timing, which is not likely to happen in the immediate future,” Domenicali told F1 India broadcaster FanCode last month.
