Formula One Race in India In 2009

After a lot of meetings and rumours the Indian Olympic Association has finally announced that it has come to an agreement with Formula One boss Bernie Ecclestone for conducting an F1 race in New Delhi from 2009. Ecclestone has for quite some time been engaged trying to widen the extent of influence for F1 races. At present Malaysia and Singapore hosts F1 races in Asia. India is one of the largest consumer markets in the world with a booming economy and an F1 race will no doubt be beneficial to both India and Ecclestone.

IOA president Suresh Kalmadi said the agreement was preliminary and conditional on having a venue approved.

The city does not currently have a racing track.

"We have received a letter in this regard from Bernie Ecclestone," said Kalmadi. "The IOA will be the promoter, the first event will be held in 2009."

He added: We are looking to identify suitable land for a world-class track."