Chequered flag

The success of India's first Formula One Grand Prix stands in striking contrast to last year's Commonwealth Games fiasco. Star-studded and packed to the galleries with 95,000 F1 enthusiasts, the Buddh International Circuit won high praise from race-car drivers and international media alike. Given the short time in which the track was put together, such plaudits bear testimony to the art of the possible when bureaucratic red tape and government interference are mitigated.
Unlike the Commonwealth Games, which was marred by confusion and multiplicity of government authorities, the Indian GP was a wholly private initiative. The Uttar Pradesh government needs to be commended for its hands-off approach. Had it been otherwise, another sport disaster could have been on our hands. It is precisely because the private sector was allowed to deliver unhindered that the Indian GP lived up to expectations. F1 boss Bernie Ecclestone said as much when asserting that the Indian private sector should be proud of its achievements. Not just the private sector, the credit belongs to civil society at large — India's ability to attract such international praise exemplifies its growing soft power.
Thanks to India's sustained economic growth over the last decade combined with a massive market, international players increasingly want a piece of the Indian pie. This is the logic that drove F1 to make India its latest home. Having said that, there are certain lessons that need to be learnt. Undue political interference at the cost of development must be guarded against. The private sector is the growth engine of the Indian economy. Instead of putting obstacles in its path, the government should play the role of facilitator. Case in point, by piling customs duty and other demands on the F1 organisers, the Union government wasn't exactly encouraging. Such narrow thinking is bound to stymie India's growth outlook.
The argument that F1 is an elitist sport and should not be encouraged doesn't cut much ice. Access to the sport itself might be limited but the fact remains that F1 can create massive economic opportunities. According to Assocham, the sport could generate Rs 90,000 crore in revenues over the next decade and create 15 lakh technical job opportunities. Also, like in Singapore, F1 can be leveraged to market Indian culture and tourism. Taken together, the benefits are far greater than pouring taxpayers' money into government-sponsored events, a large portion of which might be siphoned off. It's time we woke up to the possibilities.