NOIDA: Sports minister Mansukh Mandaviya on Monday said efforts are underway to bring Formula 1 back in 2027, with the government working to address tax-related hurdles that led to the sport leaving in 2013 after three editions at the Buddh International Circuit in Greater Noida, news agency PTI reported. Speaking to the media, Mandaviya said at least three companies have shown interest in operating the circuit where the race is proposed to be held. The Indian Grand Prix was last held in 2013 before being dropped due to taxation and bureaucratic challenges. Mandaviya expressed confidence about the revival, saying: “There will be an F1 race in India in 2027. First race will be at Buddha International Circuit,” Mandaviya said. However, sources within Formula 1’s parent company Liberty Media indicated that an agreement is still far from final. “2027 is highly unlikely but India is a market of interest. We have many amazing fans in the country but we are not close to an agreement,” said the source. Formula 1 had earlier highlighted a fan base of 79 million in the country while announcing its broadcast partnership last December. The proposal also comes as the Adani Group is set to acquire debt-laden Jaypee Group assets, including the Buddh International Circuit, reviving speculation over the track’s future in global motorsport. Mandaviya said the government will play a facilitative role, particularly in addressing tax issues that previously made hosting unviable. “It will take another six months to work out the modalities. The government will help in getting the tax relaxations that had become a bone of contention so that it is a viable venture for the organisers,” said the Sports Minister. He also pointed to broader geopolitical and sporting considerations, adding: “Given the global situation due to the ongoing Iran war, India is being seen as a safe and viable venue for sporting events, including F1. We plan to have a Moto GP event before F1 returns. The Federation of Motor Sports Clubs of India (FMSCI) is in talks with Formula One right now, we will be facilitators,” he elaborated. Mandaviya said infrastructure upgrades and fiscal incentives would be key to attracting Formula 1 back. “Not just BIC, we have good tracks in Chennai and Hyderabad as well. Government’s role would be to deliver on infrastructure and handle tax-related issues. “For instance, if the entertainment tax cannot be altogether repealed, we will try to ensure that reimbursements are provided to incentivise the project for the organisers. Discussions are ongoing on this issue. “It is an inter-ministerial matter and we are trying our best to make it attractive for Formula One,” Mandaviya added.
