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.
