"I'm proposing to start things with a street race on Raj Path," businessman Vijay Mallya said this week, admitting that the lack of an adequate permanent circuit would otherwise be an obstacle to getting the race up and running by 2009.
Mallya, who is a leading force behind negotiations with Bernie Ecclestone, is also chief of Toyota's new on-car sponsor Kingfisher Airlines.
Toyota driver Ralf Schumacher is therefore on PR duties in India this week, and with Mallya has met with Indian minister Shiela Dixit about the grand prix.
Ralf said: "It's incredible what's been happening in India in the last three years. If you read any newspaper you get to know about the booming economy.
"F1 must come to India and I'm sure it will."