IIndia’s favorite motorsport is back. Well, not at all. But, he recent announcement Hyderabad’s feature in the Season 9 Formula E (FE) calendar has enthused fans across the country. This shows that the Fédération Internationale de l’Automobile—FIA—is still interested in holding the race in India. So why not reveal the dream we’ve been quietly waiting for? The time has come to bring Formula One back to India.
The Formula One World Championship (FOWC) and its allies have long been troubled by hostile conflicts with Indian parliamentarians, dating back to 2011. However, the Telangana government is credited with leading the way in the 2016 Mexican Grand Prix like Valtteri Bottas for signing the letter. Intended within a month. So much so that even FE’s chief championship officer, Alberto Longo, was impressed.
It has been almost a decade since our last Indian Grand Prix (GP). The Buddh International Circuit (BIC) was home to three exciting championship judges in 2011, 2012 and 2013. it was a favorite drivers, fans and organizers. Together award winning circuitIndia was set to become a major venue for future Grand Prix. The contract was to run for two more years, so what went wrong?
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Indian Grand Prix death
Like all good things, the Indian Grand Prix was also marred by bureaucratic issues and heavy taxation. The organizers and the FOWC were dragged into the mud to bring a new sport to the country.
The F1 Race Promotion Agreement states that fees must be exempt from all taxes. And in the beginning, the then Chief Minister of Uttar Pradesh Mayawati did the same. The Jaypee Group, which created the BIC and organized the GP, was exempted from paying 25 per cent entertainment tax. But with the change of leadership in Uttar Pradesh, the new Chief Minister Akhilesh Yadav withdrew that exemption from the previous date. The Sports Ministry then explicitly called Formula 1 was not a game but entertainment And an F1 Grand Prix “added nothing to the development of the sport in the country”.
In addition to JP’s insistence on paying taxes, officials also barred F1 from receiving money from bank guarantees – another requirement for race contracts. To make matters worse, the Supreme Court said in 2017 that BIC was a permanent establishment And Formula One was now required to pay tax on any income earned from India, which was estimated at 40 percent. As a result, the FIA abandoned the Indian Grand Prix and the circuit-hosted car was launched and was even there for some time. seal, This affected the prospects and popularity of motorsport within the country.
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new opportunities
With the return of international level motorsport, India really needs to rethink whether they want to take it seriously or not. India lacks quality motorsport academies and lack of engagement is hurting its future prospects. Just imagine a country completely missing out on the thrill of high-performance engines.
Indian fan base has grown over the years, and a lot of this can be credited to Netflix’s Drive to Survive (2019). Bringing the race home and watching our favorite compete in our backyard would be nothing short of spectacular. Also, it will give a significant boost to talent within the country. Can you imagine if a player like Jahan Daruwala would have won at home because of the uproar like Neeraj Chopra?
If that’s not enough, also known to attract F1 events globally in tourists (reliable 6 percent annually). A good example of this would be the Singapore Grand Prix, which originated Incremental tourism receipts of $1.5 billion, Since the circuit’s debut in the calendar in 2008, the country has seen 550,000 unique visitors. The economic height of hosting a Grand Prix is something India has experienced before and could continue. In its first year alone, the Indian Grand Prix saw a Hotel booking boom Regular employment for the people living in and around the circuit. DS Rawat, then general secretary of the Associated Chambers of Commerce and Industry of India, said the first weekend had enough potential to generate Rs 850 crore in revenue and provide employment to over 10,000 people. It’s a win-win.
Millions of fans across the country including me are hungry for Formula 1 GP at home. We clearly have the infrastructure and the ability to conduct these races and do them well. So just bring it back already. It’s been a long time.
Thoughts are personal.
(Edited by Srinjoy Dey)