Force India team launch 2008 F1 car

The Ferrari-powered VJM01, unveiled in front of a large crowd against the backdrop of the Gateway of India, is the same basic chassis as used by the team's predecessor Spyker last year but there are changes to the aerodynamic package.

Force India, who raced as Spyker last season before being bought and renamed by a group headed by Indian billionaire Mallya, have already confirmed Italian Giancarlo Fisichella and German Adrian Sutil as their drivers.

Spyker scored just one point and finished 10th overall in the 11-team championship after McLaren were stripped of all their points for a spying controversy.

Force India, in their new livery of gold, tungsten and white, are looking to improve their performance.

"We - myself and the Mol family (co-owner) - have given the team financial resources, technical resources and human resources as well. We can confidently state that Force India will move up steadily in progress," Mallya said.

The budget for the season has been set at $120 million, an increase of $50 million from last year.

The drivers were present but there was no demonstration lap. The new car's first test run is scheduled for Spain's Barcelona circuit on Feb. 25. The season starts in Australia on March 16.

Cricket-crazy India, with 1.1 billion people and the fastest growing major economy after China, is seen as a potential market for other sports.

When Narain Karthikeyan became India's first Formula One driver in 2005 when he raced for the now defunct Jordan team, interest in motor racing picked up in the country.

India will host its first Formula One grand prix in 2010.