NEW DELHI: The Budh International Circuit was successful in taking the field of motor sports to a different level in India. The Jaypee Group’s Jaypee Sports International Limited backed the five-year contract with the governing body of Formula One, FIA and built India’s premier F1 track. However, CEO and MD of JPSI Sameer Gaur’s dream broke after 2013 when FIA withdrew India from the calender.
The major reasons behind the withdrawal were the political red tape and taxation issues. Though the circuit is said to be a part of New Delhi, geographically it is located in the neighboring state of Uttar Pradesh. Since F1 is not considered a sport in the country but as entertainment, the UP government wants to levy taxes on the event.
“We are keen on bringing Grand Prix back to the country. Talks are going on but there are certain tax issues which we have to deal with. So nothing is in our hand, we are doing everything that is possible,” the senior vice president of the JP Group, Askari Zedi, said.
Since there is no financial help from the government, it is difficult for the JP Group to pay the hefty licensing fee which comes with the sport.
Nevertheless, Zedi believes that they should be successful in completing their five-year contract with the FIA, with three races already held.
“2015 is not possible. And nothing could be said about 2016, but we are trying our best to hold the race by 2017.”
During the three years of Indian Grand Prix’s run, there were praises heard about the circuit from the drivers. It has all the facilities and when the firm is keen to host the event, a little backing from the government may bring back the sport to India.