(economic benefit)The Indian Grand Prix has the potential to generate around $170 million in revenue and employ as many as 10,000 people. The opportunity in advertising tie-ups between manufacturers and F1 are also a consideration. The race also coincides with the important Diwali holiday, when consumer spending is typically at its highest and many people are travelling which further improves economic prospects.
(reactions)Vijay Malya said, after signing a sponsorship agreement between his Kingfisher Airlines and the Force India team, (of which he is also team principal) that he was confident the sport would come to the subcontinent. "It has always been my dream to bring Formula One to India," he told a news conference on the sidelines of the launch of Force India's car in 2008. "The government of Delhi I think really wants Formula One in India and I am optimistic that maybe we will be able to host our first race in 2009."
(reactions)Vijay Malya said, after signing a sponsorship agreement between his Kingfisher Airlines and the Force India team, (of which he is also team principal) that he was confident the sport would come to the subcontinent. "It has always been my dream to bring Formula One to India," he told a news conference on the sidelines of the launch of Force India's car in 2008. "The government of Delhi I think really wants Formula One in India and I am optimistic that maybe we will be able to host our first race in 2009."
Both the Motorsports Association of India and the Federation of Motorsports Clubs of India have expressed some scepticism. The latter's president, Rajat Mazumder, has said that "The only authorised body that can run motorsports in the country is ours" despite the fact the deal has been signed with the Indian Olympic Association.
