"I started my racing career with Fiat which then became the famous Padmini Premier many years back. I always dreamt of an Indian team in Formula One and for me today it is a matter of great honour and pride to compete in the world championship with an Indian team.
"It is a new platform for the face of new India. The total budget involved for 2008 is in excess of 120 million dollars or more than 480 crores rupees. A few years back India was not ready for this sort of commitment, but now I am proud to be launching my team at the Gateway of India," Mallya added.
Also read: Hamilton, his damned team, and a paper trophy
The Indian-billionaire also added that his team is looking at a podium finish by 2010.
"I hope that by 2010 Force India will be on the podium when India will also host a Grand Prix," he said.
Complete coverage: Formula One World Championship 2008
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