The first Formula One race, the Indian Grand Prix was held at Buddh International Circuit in 2011. The championship returned to the country in 2012 and 2013, but since then the top tier of the single-seater racing series never made it to India.
Buddh International Circuit has still two years of the contract to host two races, but with the issues with the taxation policy of the government, the Indian GP was not held since 2013.
But now, it looks like Formula One might soon return to India. Yes, F1 boss Chase Carey of Liberty Media stated that India has a great potential for the sport which is absent in the country for the past four years.
Liberty Media recently bought the Formula One rights from Bernie Ecclestone ending his 40-year hold on the sport. At the Singapore Grand Prix, Liberty Media head, Carey said, "India is a country that certainly has great potential and as we go forward, we will continue to study."
Carey added that the primary focus for the sport is to make sure that 21 races will be in the 2018 season. He further said, "But there are places around the world that present us with great opportunities for us to grow the sport overtime and certainly a country like India with the success and the growth it has had in recent years, makes it an exciting opportunity down the road."
From the 2018 season, Formula One will have 21 races and only five will be held in Asia. The Malaysian GP will be missed next year as other countries are waiting for an opportunity to host an F1 race.
The main challenges for the Formula One in India are the financial problems of Jaypee Group which owns the Buddh International Circuit and the high taxation by government. It will be a tough task to make the Indian GP happen again.
Currently, Formula One is looking to expand the reach of the sport around the world by racing in the emerging markets. India is one of the key location for the sport, but with the given problems will it make a comeback? Only time will tell. But Indian F1 fans would love to see the Indian GP back in its full glory.