India moves to bring Formula 1 races back to the country
The Indian government is working to remove tax and regulatory hurdles to bring Formula 1 car races back to the Buddh International Circuit on the outskirts of New Delhi in 2028, more than a decade after the race was canceled.
The Indian Grand Prix first started in 2011, but was canceled after its third edition in 2013 due to regulatory and tax disputes.
Indian Sports Minister Mansukh Mandaviya recently met with stakeholders, including potential owners of the circuit from the Adani Group and representatives of the country's motorsport federation, and said he would form a task force to revive the race.
A source in the ministry told Reuters that addressing complex tax and regulatory issues would be at the top of the task force's agenda.
The source added, "The task force will study the challenges affecting the revival and growth of motorsport in the country, including Formula 1 races, with a particular focus on issues related to taxes, regulatory aspects, infrastructure, and other policy interventions."
The task force will include representatives from Indian tax authorities. The source indicated that the Indian government's public policy body has been tasked with inter-ministerial coordination to reduce bureaucratic procedures.
The Adani Group, which is in the process of acquiring the company that previously owned the circuit, did not respond to a Reuters request for comment.
However, the managing director of Adani Ports and Special Economic Zone, Karan Adani, said he is "personally involved" in efforts to bring Formula 1 races back to the country.
Stefano Domenicali, CEO of the Formula 1 World Championship, recently confirmed "great interest" in returning to India, but noted that a lot of preparations need to be completed.
Last month, he told the FanCode platform that broadcasts Formula 1 in India, "There are the right things that we need to do, which is to find the right promoters again, the right cooperation, the right timing, which won't happen in the very short term."
Original source: Akhbaar24
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