India's Formula 1 ambitions

India is hoping to speed from the grassroots of motor sport towards hosting Formula 1 racing.

As the world's most expensive sport, the economic potential is significant.

The search is on for Indian F1 drivers and plans are in place for a new track ahead of the first Indian Grand Prix in 2011.

The hope is that this could potentially bring in new backers and millions of new fans to the sport.

Shilpa Kannan reports.