he greatest benefits of having Formula 1 race would be to gain international recognition and promoteIndia. Besides the publicity, such an event would draw, the country would benefit in many ways. Indiacould learn from the technology related to engine design and production. But the main aim for having aFormula 1 race in India is to bring in revenue from foreign countries.There will be many critics who will feel that the Formula 1 circuit will not contribute to a healthier Indianeconomy as it will burden the country as US$120 million was invested on a racing track alone. Moreoverit is undeniable that the Formula 1 and the Grand Prix are expensive sports. Each track that wishes tohold the GP will have to pay US$10 million a race.Although the sport is expensive but revenue generated by it is also huge. As many say, Formula One isthat giant vacuum cleaner that sucks up money at an alarming rate but also brings in annual revenue ofmore than US$270 million. Typically in a Grand Prix event some US$12 million is invested in advertisingand promotions, and marketing for the event .The business community of the city where the Grand Prixevent is held generates an income close to US$60 million. Even the official caterer for the Grand Prixmakes around US$6 million in profit, catering to some 300,000 spectators who turn up throughout thedays of the event.Through ticket selling alone, the expected sales generated from just the grandstand tickets are aboutUS$13 million. There is also some 60,000 passes ranging from US$66 and US$131 for the natural standwhich can be offered through several international ticketing agents in Europe and other countries acrossthe world. In order to boost ticket sale , the Indian circuit should have ticketing agents in severalcountries in Europe , Asia and some countries in North and South America.Other than targeting the Indian circuit to just the Formula 1, the circuit can also target hosting otherevents like the Motorcycle Grand Prix (now called as Motogp)and various other forms for motorsportwhich are held every year throughout the world, but for this the circuit has to be designed and build insuch a way that it should be suitable for any kind of motorsport, ranging from go-kart to Formula 1Grand Prix to Motorcycling Grand Prix. Circuit authorities can also charge commercial companies thatare interested to shoot advertisement at circuit. In the future the circuit can be given to various teamson rent for the testing of their racing cars which are usually during winter. For example Paul RichardCircuit in France, Valencia in Spain are very popular among Formula 1 teams for their winter testingprogram.No doubt that they sound like some big money making schemes but there will also be heavy fixedoperating cost incurred which will increase burden to the circuit authorities.Another great way to generate revenue was through broadcasting and advertising. The Formula 1 eventwas the second most watched after the Olympics in terms of followers. There are 2.5 billion peoplewatching each of its 17/18 races and research shows that 64 per cent of Formula 1 home viewer are inAsia. Broadcasting and advertising rights as the event was estimated to have reach 200 million peopleworldwide. But the race was televised live to 130 countries with an estimated 350 million viewers. For a
good one and half-hour, all eyes will be on our country.If we work out the advertising cost of one minute on TV and multiply it by 90, we can get some idea ofadvertising value this circuit will give. Indian circuit will be able to bring in more sponsors as most of thetobacco companies are restricted from advertising in several European nations. This is true to someextend. The event have a lot of viewer, but the broadcasting rights will not controlled by the Indiangovernment but by the FIA.Apart from giving the country worldwide exposure, there will be spin-offs for the tourism industry.Tourism industry would greatly benefit from the race event. There will also be a lot of revenuegenerated for the advertising industry. Hospitality sector will improve their status, as the auto-racingevents might bring in great effects of tourism into the country. It promotes the country not only as oneof the tourist attraction but will also attract sport lovers from all over the world.The Government can aim to attract some 40,000 tourists for the F1 Grand Prix. For first few years theraces tickets can be made cheaper, so as to attract maximum people not only from outside India butalso from other parts of the country. Although the tickets might still be expensive for some, but thecurrent focus is to bring in tourists who could afford it into the country. The tickets can be sold throughvarious agents through out the world. There are some upper-class Formula 1 fans who are used to usinghelicopter around and to meet the demand of the helicopters it has to be sourced for other countries.More revenue can also expected from the 2,500 people who will travel with the F1 teams who would beracing in Indian soil. There are 10 teams and each of them will bring between 150 and 250 people. Thesepeople would likely to become tourists.More than 100,000 people usually flock to circuit to watch the event and many of whom will be wealthyenthusiasts who will spend a lot of money. Hotel and the hospitality industry will benefit greatly fromFormula One, Entertainment, accommodation and food for their staff.India is becoming a global hub for most of the major technology and finance companies, so having aFormula 1 racing in Indian will encourage more investment into the sub continent. India has a vast poolof brain and good infrastructure which will encourage government funded mission worldwide who canexplore Formula 1 business and technology possibilities in the region, and in the future they can aim tomake India a regional center of excellence for motor sports with the cooperation of various internationalmotors ports industry. India can improve its automotive industry through motor sports.This is also one way to encourage the growth of car industry and motor sports in the country. It mightalso give birth to new potential athletes in motor sports racing. However it does not only benefits thecountry as a center for motor sports development center but also the region as it is cheaper for foreignteams to base themselves here. The circuit would also complement the rapidly growing automotiveindustry and the need for research and development center and India can aim to develop their ownFormula 1 engine so that they would not depend on other for the technology. Not only engine
development but also other areas like oils, lubricants, tyres, electronic and software systems etc. will bebenefited from this kind of research program.Once a Formula 1 race takes place in the Indian soil then government can put efforts to educate andcreate awareness of the Formula 1 sport and technology among students and school children. Suchinitiatives can be taken in association with any of the major automotive or related companies.Apart from educating the students on Formula 1 and technologies , various achievements can behighlighted in advanced automotive engineering and related fields as a result of involvement in this hi-tech and prestigious sporting arena. This will definitely inspire more students and school children toconsider automotive engineering as one of the fields they would choose when pursuing highereducation and career, which in turn will help in the future development of the Automotive industry inthe country. This program will also cultivate and enhance interest among the young Indians in theFormula 1 sport.Despite all the benefits from the race circuit , there are several undeniable impacts it has on theenvironment. Usually Formula 1 circuits are build at a distance from the main city and a big area of landis required to build the facility. India being an agricultural country, so the while building a circuit many ofthe agricultural lands might have to be sacrificed.Agriculture brings a lot of revenue to the Indian economy and as such agriculture is clearly seen as moredominant as compared to the tourism industry. The question that people have in mind is that sinceagriculture is very important for Indian economy , so why would Indian government wants to turn theagricultural land into a racing circuit and by the amount of tourist the formula 1 is bringing in, it mightnot be able to justify the losses of agricultural revenue.The government has to reallocate the people of this place who were dependent on agriculture to othergovernment lands in other states. Moreover the size of the land that will be needed to build the circuitwill make a up very small percentage of the total agricultural land in the country and therefore theimpact would be minimal. On top of that, through modernization, the region where the circuit will bebuilt and hence the races will be held will be a big revenue earner for the state and it will also bring ininternational recognition to the country. Opportunity cost of using the land for Formula 1 projectinstead of agricultural are not excessive.As it changes the environment from agricultural base to a new developed town, cultures of the peopleliving in those area and surrounding will change. The people from those areas will have to be displacedand reallocated to some other government lands. Some who have stayed there many years will beforced to leave the place. But to some others who does not want to move from the place will faceunemployment. Even though there are a lot of job opportunities since so much of development willhappen due to Formula 1 racing , they will have to face with re-skilling themselves.Secondly, there will be tremendous development in the area. There will be more schools for the
childrens education, better hospital facilities, and more job opportunities. The government can providemore-trading opportunities for residents by building a common markets where the farmers can markettheir produce.Thirdly, with so much of foreign sponsors coming in especially through advertising, many people aregoing to be influenced. Peoples beliefs or principles might be affected if method of advertising is notappropriate. Furthermore most of the Formula 1 fans are from western countries and the Indians willget a lot of exposure from the western cultures and values. This does not imply that the westerncultures and values are negative but rather does not fit into the way of life of the Indian cultures. Thismight create what is called the generation gap between the younger generations and the oldergenerations as the younger generations are influenced by western cultures while the older generationsare by the traditional Indian cultures. India is famous for its traditional culture and respect for theelders.With the Formula 1 circuit in Indian soil there will be more Indian car racers born and this might givethem a chance to fulfill their dream of racing in the pinnacle of motorsport.Back to TopFormula One, also known as Formula 1 or F1 and referred to officially as the FIA Formula One World Championship, is the highest class of single seater auto racing sanctioned bythe FédérationInternationale de lAutomobile (FIA). The "formula" designation in the name refers to a set of rules with which all participants cars must comply. The F1 season consists of a series of races,known asGrands Prix (in English, Grand Prizes), held on purpose-built circuits and public roads. Theresults of each race are combined to determine two annual World Championships, one for the drivers andone for the constructors. The racing drivers, constructor teams, track officials, organizers, and circuits are required to be holders of valid Super Licences, the highest class of racing licence issued by the FIA.Formula One cars are considered to be the fastest circuit-racing cars in the world, owing to very highcornering speeds achieved through the generation of large amounts of aerodynamic downforce. FormulaOne cars race at speeds of up to 360 km/h (220 mph) with engines limited in performance to a maximumof 18,000 revolutions per minute (RPM). The cars are capable of lateral acceleration in excess of 5 gincorners. The performance of the cars is very dependent on electronics – although traction control andother driving aids have been banned since 2008 – and on aerodynamics, suspension and tyres. Theformula has had much evolution and change through the history of the sport. Europe, the sportstraditional base, is where about half of each years races occur. That said, the sports scope hasexpanded significantly during recent years and an increasing number of Grands Prix are held on othercontinents.
Formula One had a total global television audience of 527 million people during the course of the 2010 FIA Formula One World Championship. Such racing began in 1906 and, in the second half of the 20thcentury, became the most popular kind of racing internationally. The Formula One Group is the legal holder of the commercial rights. With annual spending totalling billions of US dollars, Formula Oneseconomic effect and creation of jobs is significant, and its financial and political battles are widelyreported. Its high profile and popularity make it a merchandising environment, which results in greatinvestments from sponsors and budgets in the hundreds of millions for the constructors. However, mostlysince 2000, due to the always increasing expenditures, several teams, including works teams from carmakers and those teams with minimal support from the automotive industry, have become bankrupt orbeen bought out by companies wanting to establish a team within the sport; these buyouts are alsoinfluenced by Formula One limiting the number of participant teams.012 FIA Formula One World Championship Race Calendar012012 FORMULA 1 QANTAS AUSTRALIAN GRAND PRIX (Melbourne) 16 - 18 Mar022012 FORMULA 1 PETRONAS MALAYSIA GRAND PRIX (Kuala Lumpur) 23 - 25 Mar032012 FORMULA 1 UBS CHINESE GRAND PRIX (Shanghai) 13 - 15 Apr042012 FORMULA 1 GULF AIR BAHRAIN GRAND PRIX (Sakhir) 20 - 22 Apr05FORMULA 1 GRAN PREMIO DE ESPAÑA SANTANDER 2012 (Catalunya) 11 - 13 May06FORMULA 1 GRAND PRIX DE MONACO 2012 (Monte Carlo) 24 - 27 May07FORMULA 1 GRAND PRIX DU CANADA 2012 (Montréal) 08 - 10 Jun082012 FORMULA 1 GRAND PRIX OF EUROPE (Valencia) 22 - 24 Jun092012 FORMULA 1 SANTANDER BRITISH GRAND PRIX (Silverstone) 06 - 08 Jul FORMULA 1 GROSSER PREIS SANTANDER VON DEUTSCHLAND 201210 20 - 22 Jul (Hockenheim)11FORMULA 1 ENI MAGYAR NAGYDÍJ 2012 (Budapest) 27 - 29 Jul 31 Aug - 02122012 FORMULA 1 SHELL BELGIAN GRAND PRIX (Spa-Francorchamps) Sep13FORMULA 1 GRAN PREMIO SANTANDER DITALIA 2012 (Monza) 07 - 09 Sep142012 FORMULA 1 SINGTEL SINGAPORE GRAND PRIX (Singapore) 21 - 23 Sep152012 FORMULA 1 JAPANESE GRAND PRIX (Suzuka) 05 - 07 Oct162012 FORMULA 1 KOREAN GRAND PRIX (Yeongam) 12 - 14 Oct172012 FORMULA 1 AIRTEL INDIAN GRAND PRIX (New Delhi) 26 - 28 Oct 2012 FORMULA 1 ETIHAD AIRWAYS ABU DHABI GRAND PRIX (Yas18 02 - 04 Nov Marina)192012 FORMULA 1 UNITED STATES GRAND PRIX (Austin) 16 - 18 Nov20FORMULA 1 GRANDE PRÊMIO DO BRASIL 2012 (São Paulo) 23 - 25 Nov
Team Constructor Chassis Engine Tyre No. Race Drivers Rounds Test/Reserve Driver(s), so why would Indian government wants to turn the agricultural land into a racing circuit and bythe amount of tourist the formula 1 is bringing in, it might not be able to justify the losses ofagricultural revenue. The following twelve teams and twenty-four drivers will compete in the2012 Formula One World Championship. The FIA published a provisional entry list on 30November 2011, and the grid was finalised on 17 February. Test/Reserve Team Constructor Chassis Engine Tyre No. Race Drivers Rounds Driver(s) Renault 1 Sebastian Vettel 1–2 Red RB8 RS27- Red Bull PBull Racing 2012 2 Mark Webber 1–2 SébastienBuemi 3 Jenson Button 1–2Vodafone MP4- Mercedes Gary Paffett McLaren PMcLaren 27 FO 108Z 4 Lewis Hamilton 1–2 Oliver TurveyMercedes 5 Fernando Alonso 1–2 Giancarlo Ferrari FisichellaScuderia Ferrari F2012 PFerrari Type 056 6 Felipe Massa 1–2 Marc Gené DavideRigon Michael 7 1–2Mercedes F1 Mercedes SchumacherAMG Mercedes P Sam BirdPetronas F1 W03 FO 108Z 8 NicoRosberg 1–2Team Renault 9 KimiRäikkönen 1–2 Lotus Lotus E20 RS27- PF1 Team 10 RomainGrosjean 1–2 JérômedAmbrosio 2012 Sahara 11 Paul di Resta 1–2 Mercedes Jules BianchiForce India Force India VJM05 FO 108Z P 12 NicoHülkenberg 1–2 Gary PaffettF1 Team 14 Kamui 1–2 Sauber Ferrari Kobayashi Esteban Sauber C31 PF1 Team Type 056 Gutiérrez 15 Sergio Pérez 1–2  16 Daniel Ricciardo 1–2 FerrariScuderia Toro Rosso STR7 PToro Rosso Type 056 17 Jean-ÉricVergne 1–2 SébastienBuemi Renault 18 Pastor 1–2Williams Williams FW34 RS27- P Maldonado ValtteriBottasF1 Team 2012 19  1–2 Bruno Senna Renault 20 HeikkiKovalainen 1–2 Giedo van derCaterham Garde Caterham CT01 RS27- PF1 Team Alexander 2012 21 VitalyPetrov 1–2 Rossi HRT HRT F112 Cosworth P 22 Pedro de la 1–2 Dani ClosF1 Team CA2012 Rosa
VitantonioLiuzzi 23  1–2 NarainKarthikeyan 24 TimoGlock 1–2 Cosworth María deMarussia Marussia MR01 PF1 Team CA2012 25 Charles Pic 1–2 VillotaNotes: Drivers in italics completed Friday testing programmes at selected events. Timeund Race Title Grand Prix Circuit Date Local UTC Qantas Australian Grand 1 Australian GP Albert Park, Melbourne 18 March 17:00 06:00 Prix Petronas Malaysia Grand Sepang International Circuit, 2 Malaysian GP 25 March 16:00 08:00 Prix Kuala Lumpur UBS Chinese Grand Prix Chinese GP Shanghai International Circuit, 15 April 15:00 07:00 3 Shanghai Bahrain International Circuit, 4 Gulf Air Bahrain Grand Prix Bahrain GP 22 April 15:00 12:00 Sakhir Gran Premio de España 5 Spanish GP Circuit de Catalunya, Barcelona 13 May 14:00 12:00 Santander 6 Grand Prix de Monaco Monaco GP Circuit de Monaco, Monte Carlo 27 May 14:00 12:00 Circuit Gilles Villeneuve, 7 Grand Prix du Canada Canadian GP 10 June 14:00 18:00 Montreal 8 Grand Prix of Europe European GP Valencia Street Circuit, Valencia 24 June 14:00 12:00 9 Santander British Grand Prix British GP Silverstone Circuit, Silverstone 8 July 13:00 12:00 GroßerPreis Santander von10 German GP Hockenheimring, Hockenheim 22 July 14:00 12:00 Deutschland11 Eni Magyar Nagydíj Hungarian GP Hungaroring, Budapest 29 July 14:00 12:00 Circuit de Spa-Francorchamps,12 Shell Belgian Grand Prix Belgian GP 2 September 14:00 12:00 Spa Gran Premio Santander AutodromoNazionale Monza,13 Italian GP 9 September 14:00 12:00 dItalia Monza SingTel Singapore Grand Marina Bay Street Circuit, 2314 Singapore GP 20:00 12:00 Prix Marina Bay September15 Japanese Grand Prix Japanese GP Suzuka Circuit, Suzuka 7 October 15:00 06:00
Korean International Circuit,16 Korean Grand Prix Korean GP 14 October 15:00 06:00 Yeongam Buddh International Circuit,17 Airtel Indian Grand Prix Indian GP 28 October 15:00 09:30 Greater Noida Etihad Airways Abu Dhabi Abu Dhabi18 Yas Marina Circuit, Abu Dhabi 4 November 17:00 13:00 Grand Prix GP United States 1819 United States Grand Prix Circuit of the Americas, Austin 13:00 19:00 GP November Autódromo José Carlos Pace, 2520 Grande Prêmio do Brasil Brazilian GP 14:00 16:00 São Paulo November Calendar changesFormula One will return to the United States in 2012, with the race to be held at the Circuit ofthe Americas near Austin, Texas. The Bahrain Grand Prix was moved to the end of the season after the 2011 race was initially postponed, but later cancelled.The race was scheduled for a November date to give the government more time to ensure civil order was restored, but was later brought forward to April. The German Grand Prix will return to Hockenheim after the 2011 German Grand Prix was held at the Nürburgring, in lintly hosted the first international formula 1 championships in India. In the middle of the hype andexcitement, I was wondering if there was any benefit to the Industry and society from such an expensivesport.It’s not cheap to be in formula One Race. A good example is that the ‘Budh’ International circuit built ingreater Noida cost roughly $450 Million. That is almost the yearly revenue of a mid-sized IT firm. Also
not to forget the hospitals and schools that can be built with that money. So why does the AutoIndustry participate in such an expensive sport?I have realized that there are three important reasons why auto industry is involved in formula One.Auto EngineeringAuto Engineering is most important factor. Many brands invest in formula one to come up withinnovative advances in auto engineering that can be one day put into commercial production.British, German, American and Japanese auto companies themselves all invest heavily in racing of allkinds for both technology and marketing reasons according to Martin Thomas a partner in an advisoryfirm.BrandingBranding is perhaps the second important factor. A few notable examples are Toyota, Honda andPETRONAS that have got into the sport to improve their brand Perception. Recently Toyota and Hondahave pulled out but I believe they have achieved their branding objective.Martin Thomas recalls how Volvo used Touring Car Racing in UK and Germany as a major tool inchanging perceptions of the brand from staid, family oriented safety obsessed to a more dynamicperception for. Also Skoda used racing to move into the premium segment. In formula 1 Ferrari has beenpositioning itself as a race leader in order to keep their aura of a premium sports brand intact.Technology & Product DevelopmentFinally new technology and product development is the third factor. Shell for example has beenassociated with the Ferrari team for a long time and uses its experience from the tracks to engineer better
grades of automotive fuels. Similarly a Carbon fiber was first introduced in the race tracks as a lightflexible material which is now.According to Professor Ted Leithart, Formula 1 and aerospace are two fields where new technologies aretested. For example, Hercules he says in the late 1970s introduced a new material called carbon fiber? Inhis first job after graduating in Mechanical Engineering carbon molds were used in manufacturingceramics and later used in house applications. In the late 80’s when Prof Leithart was with GE aircraftengines, Carbon fiber engine air intakes and fan blades were used. Now we have Ferraris and other roadcars using carbon fiber as the basis of their frame he concludes.Though it is an expensive sport, there is a lot of advantages in engaging in it. Whether India alreadydealing with many social and health issues needs to spend that kind of money on formula 1 is a debatewhich can have many conclusions. I would leave that question for the readers – Let us know what youthink!NEW DELHI: The venue for the first Formula One Grand Prix in India has been named the BuddhInternational Circuit, race promoter Jaypee Sports International has announced.The circuit, about 40 kilometres from New Delhi, can accommodate up to 125,000 spectators, including25,000 fans at the main grandstand and thousands more at the "natural grass" stands and temporarystands."It is from the word Buddha to mean peace and calmness," the Star quoted Sameer Gaur, ManagingDirector and Chief Executive of Jaypee Sports International, as saying."It is also not about one person, but an entire region working with one another," he added.Gaur further said that construction of the 5.14 kilometre track would be completed by August 30, andwould be "the countrys next biggest sporting event after the ICC Cricket World Cup."The race will take place on October 30, subject to "homologation" - the inspection and approval from theFederation InternationaledAutomobile (FIA) that the track meets all predetermined requirements - threemonths prior.It will mark a monumental journey that began over a decade ago and has coursed its way across thecountry.The circuit has been designed by world-renowned F1 circuit designer Hermann Tilke, and has cost 400million dollars.It will be part of the 2,500-acre Jaypee Greens Sports City, which is planned to include a 100,000-seatcricket stadium, 18-hole golf course, 25,000-seat hockey stadium and a sports academy.
Download ETs mobile applications for iPad, iPhone, Android, BlackBerry, Nokia and Windows Phone to track newsas it happens, live stock quotes, monitor portfolio, get market stats like gainers, losers and movers & much more. Tocheck out free Economic Times apps , Click hereaypee Sports International Ltd (JSIL), that will host Indias first ever F1 Grand Prix on itstrack this month-end, today said it has sold out 70 per cent of the total tickets available.In order to give Formula One enthusiasts a chance to witness the race, the company hasslashed ticket prices by up to Rs 20,000 for those who book it on this coming Sunday(October 23)."We have already sold out about 70 per cent of the total tickets available and 90 per cent ofthe corporate boxes," JPSIs Managing Director and Chief Executive Officer Sameer Gaurtold reporters here.He said with a lot of demand coming for the race tickets, the company has decided to slashthe ticket prices for one day on October 23 on www.bookmyshow.com.Those who book a ticket for grand stand on that day will get it for Rs 15,000 per ticket asagainst the normal price of Rs 35,000.Similarly, a classic stand ticket can be booked for just Rs 4,000 against the normal price ofRs 6,500, while that of picnic stand would be available for Rs 3,000 as compared to theusual price of Rs 6,000 per ticket.JPSI Officer Sales IshaniGhosh told PTI that apart from corporates like UB Group,Mercedes and Airtel, which are associated with the race, others like NIIT, Punj Lloyd andMTS Mobile have also booked corporate boxes."There are about 55 corporate boxes and each box has 30 seats," she said.JPSI had earlier stated it expects to garner about Rs 150 crore from ticket sales of the race.F1 tickets priced in the range of Rs 2,500-35,000Mcx Rahul Tips academy www.mcxtipssoftware.tips from tips providing software call mrchandan at09914401193Ads by Google
More Sharing ServicesShare|Share on twitterShare on facebookShare on stumbleuponShare onemailAgencies : Greater Noida, Sat Aug 20 2011, 20:17 hrsYou can watch the first ever Indian Grand Prix on October 30 by shelling out a minimum ofRs 2,500 but be ready to spend Rs 35,000 if you want to have the best view of cars anddrivers from the Main Grand Stand.The tickets for the race were made available online today through website, bookmyshow,and within the first two hours close to 1000 tickets were sold according to the organisers –Jaypee Sports International (JPSI).“We have tied up with bookmyshow for the online sale. Tickets will be sold in two phasesand the first phase begins today. Tickets will be also be available at some outlets inmetropolitan cities from the second phase,” Sameer Gaur, the CEO and managing directorof JPSI said while launching the ticket sale in the company of Indias F1 drivers –NarainKarthikeyan and Karun Chandhok.Fans can choose their preferred seat location while booking their tickets.The Rs 2,500 tickets are for the natural stand, which can accommodate 6,500 fans. Thencomes the picnic stand for which 8,000 fans will have to spend Rs 6,000 each. For 36,838seated classic stand, the ticket price is Rs 6,500.The two most expensive stands to watch the race are Premium Stand and the Main GrandStand. While the price for premium stand is Rs 12,500 for each of the 10,230 seats, its awhopping Rs 35,000 for the each of the 20,156 Grand Stand seats.