Formula E CEO rules out race in 'tax aggressive' India

The same tax troubles that forced Formula 1 to shut shop in India have proved to be a decisive deterrent for the fast-growing Formula E, says CEO of the electric car championship Alejandro Agag, who doesn't see the race taking place in the country anytime soon.

Agag said he would love to have a race in a country of more than a billion people but in the prevailing circumstances, it is just not feasible. India, however, has a solid representation on the Formula E grid through Mahindra Racing who has been competing in the series since the inaugural season in 2014-15.

"Our main worry for India is the tax. We have been doing a lot of research on the race in India. We have seen that Formula 1 faced so many tax issues in India. It is very risky to race in India because of the tax authorities," Agag told PTI.

"They (tax authorities) are very aggressive at the moment. They want to tax everything. So you don't know where you stand. I think that is the reason Formula 1 did not continue in India. We would like to have complete tax safety and then look at going to India."
"The teams keep cards close to their chest. They don't tell me how they are doing but I see all of them being fully committed to the series."