Following three successful seasons, Indian Grand Prix was dropped from 2014 calendar, majorly due to tax issues. Formula 1 body is awaiting court’s ruling on whether their income in India is taxable or not. Apart from this, there are many other issues which need to be sorted before F1 returns to India. One of them is reducing licensing fees. JPSI is believed to have paid $40 million (Rs 250 crores) per race to F1, as license fee.
Gaur hopes F1 will reduce licensing fees, but the major concern is tax issue, which needs to be sorted first. The tax issue is being heard at the Bombay High Court. Gaur is hopeful that it will be sorted, and so will the other issues. As the 2015 season is almost filled, it will be impossible to bring F1 to India next year, but 2016 is what he is aiming for.
Though nothing is certain yet, this news is a pleasant surprise for F1 fans in India, who were left wondering whether F1 would ever make a comeback in India.