Port-to-power conglomerate Adani Group is interested in restarting the Formula 1 race at the Buddh International Circuit (BIC) in Greater Noida, Karan Adani, the MD of Adani Cement said on Saturday.
The BIC was built and owned by the Jaypee Group (specifically Jaiprakash Associates Ltd (JAL)/Jaypee Sports International Ltd). However, due to significant financial distress and non-payment of dues, the land was subject to takeovers by the Yamuna Expressway Industrial Development Authority (YEIDA) around 2019.
The Adani Group is in the fray to buy the troubled JAL, the flagship company of the Jaypee Group. In November 2025, the Adani Group won the majority lenders' vote for takeover of debt-laden Jaiprakash Associates as its Rs 14,535-crore acquisition proposal included a higher upfront payment than rival bidders.
According to official sources, Sports Minister Mansukh Mandaviya recently visited the circuit and held talks with officials from YEIDA.
"I'm very excited... obviously the Buddh circuit comes (as) part of the deal. I'm very personally engaged in terms of bringing Formula 1 back into India. I think India has a lot of potential. There's a lot of following in Formula 1 from India, " Karan Adani, who is also the MD of Adani Ports & SEZ, said while speaking at the 70th Foundation Day of All India Management Association (AIMA) in the national capital.
Adani added that he has been following the sport since 2000 and believes India can set a benchmark for global events like Formula 1. "Reputation of India and Indians has improved very, very significantly... I do believe that India can really showcase Formula 1... and can be a benchmark for a global event," he said.
The F1 race was held in 2011, 2012 and 2013 at the Buddh Circuit before being halted due to a tax dispute with the Uttar Pradesh government, which said the event was entertainment and not a sport.