India’s motorsport fraternity on Thursday hailed the country's entry into the Formula One race calendar, saying it was a "privilege" and a "dream come true".
India will make its debut as an F1 venue on October 30, 2011, when the Jaypee Group Circuit in Greater Noida will host the 2011 season's 18th race.
World governing body of the game FIA, on Wednesday included India in the 2011 calender.
Vijay Mallya, owner of Force India F1 team, welcomed the FIA's decision. "As Team Principal of India's very first F1 team — Force India and in my capacity as chairman of the Federation of Motor Sports Clubs of India and a member of the FIA World Motor Sports Council, this is a dream come true," Mr Mallya said in a statement.
"As an Indian, I feel proud and walk tall among the world's motor sports community. There are a maximum of 20 F1 Grand Prix races worldwide each year and it is a matter of pride that India is on the list," Mr Mallya said.
Karun Chandhok, India's second F1 driver after Narain Karthikeyan, said the FIA decision is path-breaking for the sport in India.
"This is truly a historic moment for Indian motorsport and I am extremely excited to be part of it. To be a part of the F1 World Championship is a real privilege for India," Chandhok said.
The UK-based driver said the FIA move may help young drivers in getting support of the corporate world.
"I hope that seeing a F1 race live will inspire more corporates to come in and support the young drivers we have in India with the sponsorship they need to make it all the way to Formula One," he said.
The track needs to be completed by July 30 and it will get a go-ahead subject to the FIA's homologation.
India's F1 race will be held at Jaypee Circuit, which is under construction now in Greater Noida, about 50 km from the national capital.
The estimated cost to develop the 5.15 km circuit is about $215 million with a seating capacity of 150,000. The construction work needs to completed by June 2011.
Mr Mallya was confident that the track would meet the deadline and live up to the necessary specifications.
"I would like to record my appreciation for the bold initiative taken by the Jaypee Group in establishing a greenfield F1 race track at Noida. From the regular reports I have received, construction is in full progress and the track with considerable supporting infrastructure will be ready well in time for the 2011 event," he said.
Mr Mallya also said that the country will become one of the most attractive sporting destinations in the future.
"India's economic growth, young and aspirational demographic and the growing popularity of F1 in the country make it one of the most attractive future destinations for a high technology-driven and fantastically competitive sport like F1 where both man and machine are tested to the absolute limit," he added.