Marussia Formula One driver Timo Glock of Germany drives during the first practice session of the Indian F1 Grand Prix at the Buddh International Circuit in Greater Noida. Reuters Photo
UK-headquartered Formula One racing team Marussia is looking for strategic partnerships in India, which it considers as an "important market".
The team, majority-owned by Russian marquee Marussia, is participating in the ongoing F1 championship in New Delhi.
Marussia F1 Team president and sporting director Graeme Lowdon said the entity is open for partnerships in the country.
"Indian market is important for us for many reasons... Technology is important (for us) and there are a lot of technology businesses in India," he told PTI.
Without disclosing specific details, Lowdon said the team is open for strategic partnerships in India.
Currently, the team has about 175 to 180 employees. It plans to increase the workforce strength to around 200 people by the end of 2012.
According to him, generally it requires about $90-375 million to maintain a F1 team.
In response to a query on the high cost structure for the F1 sport, especially against the backdrop of sluggish economic conditions, he said there is a need to reduce expenses.
"As a sport, I think we do spent too much and the sport itself has to take this really seriously, has to reduce the cost... especially when the economic situation is volatile," Lowdon noted.
Marussia has participated in two full seasons of F1 competition.
The team has a partnership with leading job portal Monster.com for recruiting talent worldwide and so far it has helped the racing team to hire 23 specialists across diverse areas.