The arrival of Formula 1 in India must be seen as another significant step towards establishing India firmly in the world’s sports market. It is a natural consequence of the opening up of our economy, its stability – and the enormous numbers of the young consumers of televised sport here – that India has been identified as an emerging sports market, as a sporting destination.
Look at how soccer teams from Europe have started investing their attention here – Bayern Munich, Manchester United, Manchester City and Tottenham Hotspur are good examples. Consider how NBA has already set its foot on Indian soil by tying up with Mahindras; or, for that matter, look at how golf’s European PGA Tour has already expanded its base with a second-level Challenge Tour event in India. It was inevitable that Formula 1 President and CEO Bernie Ecclestone brought the sport to India sooner than later.