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NEW DELHI: It is not just sweets and nuts that are corporate gifts this Diwali. Companies are using the inaugural Airtel Formula One Grand Prix of India as an extension of the festival season.
 
If you are a prominent consumer, or you are in the government, politics or media, chances are you would have received phone calls, and even tickets or passes, for the three-day event with the Race Day scheduled for September 30, four days after Diwali.
 
From telecom companies to global apparel giants and automakers, everyone has bought tickets for the corporate boxes that initially came with a Rs 35,000 price tag, excluding parking. Of course, ticket prices have been slashed by Rs 15,000 now but there are still seats going in the Grand Stand that offers the best view.
 
For corporate houses, several of whom would fly their top executives to Delhi, it’s an opportunity to network and indulge in brand building, especially if they are in the premium products segment.
 
"The event is a great opportunity for brands to connect with the consumers. It will provide a huge mileage to the brands as the event will grab eyeballs globally," Puma India managing director Rajiv Mehta said. The company which is partnering Buddha International Circuit is also the official licensing partner for Ferrari branded products.
 
"Brands have to engage with the consumers one way or the other. The event will help us do just that," added Mohit Beotra, head, emerging business, Bharti Airtel.
 
Over the years, the character of sporting events has changed significantly. Gone are the days when students would queue up outside public sector banks to buy tickets for a game of cricket or football. Now, the best view is offered from the stands with corporate boxes that offer air-conditioned comfort along with food and drinks from the choicest restaurants.
 
With India Inc going global, events such as F1 help them project a modern image to strengthen contacts and also help their brand. Already, cardboard boxes containing dry fruits from the local wholesale market have made way for pistachios and nuts from overseas. Given the novelty factor, F1 is clearly a new favourite.