This hot news just in, that India has bagged a deal with the Formula Organisers to bring F1 to INDIA and first race to be scheduled in 2010. Mr. Suresh Kalmadi, Chairperson of IOA (Indian Olympic association) announced today that first ever race in INDIA of F1 will take place in 2010, and the location has yet to be finalized.

However, the two locations which are under consideration are Grater Noida and Sohna, which are located in Delhi. IOA president Suresh Kalmadi said the agreement was preliminary and conditional on having a venue approved.

According to report on BBC,

Should the Indian GP organisers meet the demands of Formula One Management (FOM), the race would become the fifth new venue to be added to the calendar in recent months.

Valencia and Singapore will hold races for the first time in 2008, while Abu Dhabi will enter the fray in 2009 followed by South Korea a year later.

There is no indication at present which of the current GPs would make way for the new events.

New Delhi is preparing to host the Commonwealth Games in 2010.

The city, however, lost its bid to organise the 2014 Asian Games and opted out of the race for the 2016 Olympics.