The ceremony took place in Mumbai in India and was also used to unveil the squad's new look, described by the team in its post-launch release as a 'striking new livery of gold, tungsten and white'.
The 'global launch' of the VJM01 was apparently attended by several eminent personalities, political leaders and a bevy of celebrities and corporate head honchos along with the leadership team of Force India and of course its drivers, Giancarlo Fisichella, Adrian Sutil and 'third' driver, Vitantonio Liuzzi.
"I am delighted to present before you the livery of the brand new car that will compete in the 2008 FIAFormula 1World Championship," said Mallya.
"Today is a memorable day not only for me as the owner of India's first-ever F1 team, but also for millions of Indians who can today watch India occupy a place of pride as Force India becomes the first and only Indian Formula 1 racing team to compete with the best in the world, at the pinnacle of motorsport.
"The Force India F1 Team is one of the only eleven elite teams guaranteed an entry into the FIA Formula 1 World Championship races.
"The Force India Formula 1 Team is the new global face of an emerging superpower and is today increasingly viewed as a team that will change the dynamics of F1, bottom up and a team that dares to dream.
"Most importantly, the Force India F1 Team has come to epitomize the dream of every Indian and is powered by the passion of a billion hearts!"
The VJM01 will now run for the first time at the test at the Circuit de Catalunya in Spain in just over two weeks time from February 25-27.