The Adani Group is working on strategies to restart Formula 1 racing at the Buddh International Circuit in Greater Noida, Karan Adani said on Saturday.

Speaking at the 70th Foundation Day of the All India Management Association in New Delhi, Karan said he is personally involved in efforts to bring the sport back to India.

"I'm very excited... obviously the Buddh circuit comes (as) part of the deal. I'm very personally engaged in terms of bringing Formula 1 back into India. I think India has a lot of potential. There's a lot of following in Formula 1 from India," Karan, who is also the MD of Adani Ports & SEZ, said.

The development comes as the Adani Group is in the fray to acquire Jaiprakash Associates Ltd (JAL), the flagship company of the Jaypee Group, which developed the circuit.

In November 2025, the group won the majority lenders’ vote for the takeover of debt-laden Jaiprakash Associates. Its Rs 14,535-crore acquisition proposal included a higher upfront payment than rival bidders.

According to official sources, Sports minister Mansukh Mandaviya recently visited the circuit and held discussions with officials of the Yamuna Expressway Industrial Development Authority.

Formula 1 races were held at the Buddh circuit in 2011, 2012 and 2013 before being discontinued following a tax dispute with the Uttar Pradesh government, which classified the event as entertainment rather than a sport.

Karan said he has been following the sport since 2000 and believes India can host global events such as Formula 1.

"Reputation of India and Indians has improved very, very significantly. I do believe that India can really showcase Formula 1... and can be a benchmark for a global event," he said.

He added that exposure to such sports in India is limited and people often travel to countries such as Abu Dhabi or Singapore to watch races.

Adani said restarting Formula 1 would provide an opportunity to showcase the country’s infrastructure, hospitality and heritage.