The Changes For 2011 (Part 3 of 4): India
A concept first brought about early in the last decade, the inaugural Indian Grand Prix, set to be hosted in October later this year, brings Formula One into a whole new area of marketing. Despite opposition towards the movement towards Asian-based races populating a larger percentage of the calendar, Formula One’s long-awaited move into the Indian sphere of marketing stands to both increase the value of the sport, and potentially brings millions of fans into the worldwide audience. In part 3 of this 4-part series, Community Member TH sets out to explain the reasoning, advantages and the potential future gains due of Formula One’s movement to the Republic of India.
The home of over a billion people and the second most populated nation in the world, India poses marketing potential on an unprecedented scale. When posed a question about the importance of India being placed within the F1 calendar during an interview in early-2009, Formula One supremo Bernie Ecclestone commented, “It’s a large, large country with a big population... it’s good for the sponsors, car manufacturers and everyone involved in Formula One,”. Simply-put, India presents itself as the provider of precisely what Formula One lives on – money. With India being the eleventh-largest economy in the world, one needs not explain the reason for the Indian nation being chosen to host an FIA Formula One World Championship race.
India’s immense population and financial flexibility, as well as its stereotypically sport-loving people and overwhelming pride in its nation’s athletes, are prime reasons for the development of Formula One in India. Despite the nation’s popularly-documented obsession with cricket, there is hope within the F1 fraternity that motorsport, and Formula One in particular, could soon rival the popularity of the sport in India. With the creation of championship constructor Force India, and the debut of drivers Narain Karthikeyan in 2005 and, in 2010, Karun Chandhok, Formula One has grown – some may suggest deliberately – to allow Indian viewers to express the passion they experience when supporting other, similar, national sporting icons. Despite his optimism about Formula One’s success in the nation, Ecclestone (mentioned above), realistically suggested “I doubt in India anything will be a rival to cricket, but let’s see.”
The benefits of India’s booming economy entering the Formula One calendar provide unprecedented potential gain for the nation itself. With such a high-profile event being hosted in the country (following the successful hosting of the 2010 Commonwealth Games and, in 2011, the Cricket World Cup) both India’s financial sector and international image both have the potential to make sudden, and influential, advances. With a suggested potential gain of nearly £100’000’000 and the employment of at least 10’000 individuals, should the event be a success, the numbers alone determine why it is the perfect time for Formula One to build a strong and consistent fan-base in the South-Asian nation.
Following years of negotiation, India will become a feature on the Formula One calendar in 2011. Despite the hassles of negotiation and media speculation, the overwhelming financial and economic advantages of the Formula One circus visiting India on a yearly basis alone defines why Formula One will become important to India, and why India will become important to Formula One. Despite the layout baring a stark resemblance to the Kyalami circuit of post-1990, India is set to provide Formula One audiences around the world with a unique atmosphere. Formula One and the Republic of India are set for a long and profitable future.
Credit: The F1 Times (www.thef1times.com)
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