Formula One takes note of Asian draw<\/p>\n
Alan Baldwin, Reuters\/London<\/p>\n
The confirmation of Narain Karthikeyan as India's first
\nFormula One driver is an important step for the sport, even if he
\nis unlikely to trouble world champion Michael Schumacher too
\nmuch.<\/p>\n
Jordan's own press statement spelled out the true significance
\non Thursday.<\/p>\n
The signing, it said, gave Formula One "exceptional appeal in
\nIndia with the potential for an enormous new audience and
\nbusiness market associated with a national racing hero known as
\n'the fastest Indian on wheels.'"<\/p>\n
Formula One's commercial supremo Bernie Ecclestone, who played
\nhis own part in last week's takeover of Jordan by the Midland
\nGroup, will be delighted.<\/p>\n
India has long been on the 74-year-old Briton's radar, with
\nthe southern city of Hyderabad considered as a potential race
\nvenue until the chief backer of the project was voted out in
\nregional elections last year.<\/p>\n
"In the next 10 years, Europe is going to become a third world
\neconomy," he declared in 2004 as Formula One looked forward to
\nbreaking new ground in China and Bahrain.<\/p>\n
"There's no way Europe will be able to compete with China,
\nKorea, India."<\/p>\n
If Asia's third largest economy is not yet ready to be
\nincluded on a calendar already stretched to an unprecedented 19
\nraces with the addition of Turkey in 2005, then a driver is the
\nnext best thing.<\/p>\n
China, with its debut race at the $325 million Shanghai
\ncircuit last September, has brought the world's most populous
\ncountry into the Formula One fold, and Karthikeyan can now
\ndeliver another huge headcount.<\/p>\n
The Indian is a good promotional fit for Midland, with their
\nextensive interests in old fashioned heavy industries throughout
\nthe former Soviet Union and Asia.<\/p>\n
Karthikeyan's main sponsors are the Tata Group, India's second
\nlargest business conglomerate, and state-run refiner Bharat
\nPetroleum Corp.<\/p>\n
Formula One has moved a long way from its old European
\nheartland in the last few years, spurred on partly by a desire to
\nescape European Union anti-tobacco legislation and partly by the
\ndesire of major sponsors to be present in key emerging markets.<\/p>\n
Bahrain now caters for the Middle Eastern market while Turkey,
\nwith a race at a brand new track on the Asian side of Istanbul,
\nfills another geographical hole.<\/p>\n
Next year it will be Mexico's turn, returning to the calendar
\nafter a 14-year absence with a race scheduled for a $70 million
\ncircuit to be built near Cancun on the Caribbean coast.<\/p>\n
Minardi, which gave Alex Yoong the chance to become the first
\nMalaysian Formula One driver in 2001, also announced another
\nfirst this week by signing Israeli Chanoch Nissany as its
\nofficial test driver.<\/p>",
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