Indian IT companies cash in on F1 Grand Prix

Greater Noida, Oct 29: Logos of Indian IT companies like TCS and CSC were seen displayed on the team cars of Ferrari and Marrusia Virgin, screeching at 300 kmph on day two of the practice session at the Buddh International Circuit.

CSC has a global partnership with Marrusia Virgin, which is why the team car of Marrusia Virgin hosts CSC logo. Moreover, CSC and TCS help in designing software which measure aerodynamics of an F1 car, while it's running at a speed of over 300 kmph.

The NIIT Technologie's which has not sponsored any Formula 1 team has booked a corporate box just at the starting line to host almost 20 of its global clients who are mostly from Europe to make India's maiden Formula 1 Grand prix into a global marketing event. NIIT Tech has its delivery SEZ campus just 5 minutes away from the circuit's Grand Stand.

"Almost 700 million people watch the F1 every year. It's an opportunity for us to make our clients visit our delivery campus, and watch India's first Grand Prix," says Deepak Khosla, Global Head of Sales at NIIT Technologies.

The corporate boxes were all sold out at the Buddh International Circuit at $200,000 per box, and Grand Stand tickets are selling at $700 each. Cheapest F1 tickets are selling at $60 each. Grand Stand tickets are selling at $300 each.

Twelve teams with 24 cars are competing in India's first grand Prix race track built at a cost of over $215 million. The circuit is 5.14 km long and teams will have to complete 60 laps each to finish the race, being held on Oct 30.

Earlier, the Associated Chambers of Commerce and Industry of India (ASSOCHAM) had claimed that the Formula 1 GP race in India could generate revenues of over Rs 90,000 crore in the next ten years and create 15 lakh new job opportunities in sectors such as IT, software, auto, entertainment and construction.

F1 is showcasing cutting-edge technology, reliability, speed, efficiency, teamwork, high performance, innovation, dynamism, fun and glamour and positive values that companies can spend decades trying to associate with their brands. The first ever event is opening a new marketing medium for all companies to increase their brand values.

OneIndia News