According to Indian media sources, Formula 1 bosses have signed a deal with an Indian company JP Associates to build a brand new track near New Delhi. It is said that the track is around 50 km east of New Delhi in an area called Greater Noida.
A contract for 10 years has been signed with the first F1 race in India set for 2010. However, the promoters of the race the Indian Olympic Association have yet to officially confirm the deal.
There is a growing contingent of Indian Formula 1 fans Narain Karthikeyan became the first Indian Formula 1 driver in 2005, and Indian businessman Vijay Mallya has now taken over the Spyker team along with Michiel Mol and renamed the team Force India.
In September, the IOA president announced that two sites just outside of the country s capital had had approval for a race track to be built. Over the past month, race promoters have been discussing which of the two sites would be best for India s newest motor racing track.