New Delhi, Sept. 15 -- India is exploring the revival of Formula One in the country, with the government constituting a task force under NITI Aayog to assess the feasibility of hosting a Formula One Grand Prix and develop a roadmap for the growth of the motorsports ecosystem.

The Task Force for Formula One Grand Prix feasibility assessment will examine challenges affecting the sector, including taxation-related issues, and assess measures required for sustainable development of motorsports in India.

The task force will also evaluate the international, economic, tourism and investment benefits associated with hosting motorsport events, while identifying key priorities, infrastructure requirements and operational needs.

It will further e...