A consortium involving the designers of London's 2012 Olympic Stadium and Silverstone's new layout has won a contract to plan a Formula One circuit in Mumbai, it announced on Monday.
"The venue will be designed and constructed to meet the highest level of Grand Prix standards," said Capita Symonds, Populous and Delhi Integrated Multi Modal Transit System (DIMTS) in a statement.
The consortium has been appointed by the Maharashtra State Road Development Corporation to prepare "the masterplan and business case for a new multi-purpose race circuit and regeneration project in Mumbai."
India is currently gearing up for the country's first Formula One race this weekend at the new Buddh International circuit on the outskirts of New Delhi.
The consortium said its initial task was to identify the potential location for a circuit and associated development in and around Mumbai.
"This will be followed by the development of a business case and plan that will assess market demand and the potential opportunities and risks for the sites," it added.
The consortium said it would work closely with Formula One's governing body, the FIA, as well as motorcycling's world body the FIM to ensure the scheme met the requirements of both for future events.
"Comprehensive analysis and assessments will be undertaken considering long term financial, social and environmental viability," added the statement.
"We are committed to delivering the next generation of racing circuits, with great racing, overtaking, world class facilities and architecture," commented Capita Symonds Business Development director Jerry Muscroft.
"But above all the intention is to create a sustainable venue that will not need continuous financial support, and will facilitate investment and re-generation."