Sports Ministry constitutes task force for revival, development of Formula 1 in India

India had last hosted a F1 Grand Prix at the BIC in Greater Noida in 2013 (Image credit: X)

NEW DELHI: The Sports Ministry has formed a task force led by NITI Ayog's Yugal Kishore Joshi and to work on revival and development of Formula 1 and motorsports in India. The objective of the task force is to conduct a comprehensive assessment of the motorsports ecosystem in India and review the challenges, with taxation chief among them.The target for the task force is to find feasibility of hosting a Formula 1 race in India in 2028.

The task force members include: Kunal, the Joint Secretary, Department of Sports; Joint Secretary, Department of Commerce; Joint Secretary, Ministry of Tourism; Representatives from CBIC & CBDT, Department of Revenue; Representatives from Uttar Pradesh & Maharashtra State Governments; Representatives from Buddh International Circuit (BIC) & Madras International Circuit (MIC); President/Secretary General, Federation of Motor Sports Clubs of India (FMSCI); Technical Expert nominated by FMSCI and Any other member co-opted by the Chairperson based on requirement.

The task force will hold the following responsibilities:- To identify policy interventions for the sustainable growth of motorsports in India and prepare a holistic and coordinated roadmap- To conduct a detailed assessment of India's motorsports ecosystem and review the challenges (including taxation) associated with the revival and development of motorsport events- To assess the international, economic, tourism, and investment benefits of hosting major motorsport events in India, and to identify key priorities, infrastructure requirements, and operational needs for sustainable development- To provide recommendations for a comprehensive policy framework for motorsports, including the potential for Public-Private Partnership (PPP) models.India had last hosted a Formula 1 Grand Prix at the Buddh International Circuit in Greater Noida in 2013.