Key highlights
- Formula 1 comeback expected in India
- Government agencies are reported to be in talks with F1
- Forst-ever Indian GP was held in 2011
If you are an F1 fan in India, rejoice because the world’s most decorated and thrilling car racing event might come back to India after 13 years. Read below how.
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Formula 1 come back soon to the BIC? Here’s how
As per a recent media report, Formula 1 can come back to the Buddh International Circuit once again after 13 years since the first-ever Indian GP was concluded. It is reported that the government has intensified its efforts to bring Formula One once again in India.
The report also claims that the Sports Ministry of India will be handling the diplomatic hurdles, including the taxation issues, which were once responsible for derailing the Indian GP. A total of three GP’s have been conducted at the BIC in 2011, 2012, and 2013, consecutively. However, due to the high taxes on the imported racing equipment and the high taxes by the UP state government, the event had to be eventually cancelled.
The main reason behind the discontinuation of the F1 was the high taxation and the lack of support from the state government. The UP state government had imposed an entertainment tax on the F1, which led to a hard recovery for the organisers. This move was also opposed and fought against by the organisers; however, no resolution could be achieved, which eventually led to the discontinuation of the F1.
