India GP promoter ‘waiting’ for government help

Mon, 15 June 2015, 10:35

Jun.15 (GMM) Sameer Gaur, representing the former Indian grand prix promoter Jaypee, says he is “waiting” for the government to put the F1 race back on track.

F1 supremo Bernie Ecclestone said last week New Delhi can return to the calendar as early as 2016 but he is “waiting for the promoters to get back to me”.

“We just need the Jaypee Group to say that ‘we are happy to carry on’ and we can revive the existing contract,” he was quoted by the Telegraph India.

The existing contract was interrupted after the 2013 race when F1 reportedly baulked at the tax situation in India.

Gaur explained: “The issue basically is on the tax liability of the formula one group, whether they have to pay tax here in India or in England, mainly covering the income generated from licensing fee and income of the teams and drivers.

“We are waiting for the income tax issues to be sorted and once they are sorted, we will be back on track,” he told the Press Trust of India.

Gaur admitted that a return even in 2016 is possible, but he was also highly critical of the role played by the Indian motor racing federation FMSCI.

“We will meet the Gaur family,” FMSCI president Bharat Raj told the Deccan Herald. “They are very enterprising.

“As you know, the F1 promoter (Ecclestone) is very keen to bring F1 back to India. He wants to have a dialogue with the Gaur family.

“It may take some time, but soon there will be good news,” he added.

But Raj also claims there is more to the current demise of the Indian grand prix than just the tax issue.

He said: “We need to sit and sort out things like the import policy, tax exemptions and more important, the licence fee for F1, which is usually paid by the government across the world.

“This will take time. It won’t happen overnight. The government also needs time to think and resolve these issues, but we are definitely taking up this issue,” Raj added.

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