sebastian vettel, f1
2013 Formula One World Champion Sebastian Vettel of Germany and Infiniti Red Bull Racing celebrates on the podium following the Indian Formula One Grand Prix at Buddh International Circuit on October 27, 2013 in Noida, IndiaPaul Gilham/Getty

There is a massive chunk of Formula 1 fans in India who still hope to see a rerun of the races at the Buddh International Circuit in Noida, Delhi. Well, there might be some great news in store.

Liberty Media chief Chase Carey, the man who replaced the great Bernie Ecclestone, has mentioned that the Indian market holds a great importance and the races might soon return, if everything goes as planned.

"India is a country that certainly has great potential and as we go forward, we will continue to study," the Press Trust of India quoted Carey as saying on the sidelines of this weekend's Singapore GP. "We have so far not got a chance to engage in depth yet, it has only been a little over half a year since the complete change in ownership."

The Jaypee Group-owned Buddh International Circuit, which also hosts the T1 Prima Truck Racing Championships, hosted the Indian Grand Prix thrice -- 2011, 2012, 2013. Sebastian Vettel won all the three races.

The race didn't see the light of the day after 2013, following tax dispute between the FIA and the Uttar Pradesh government, apart from bureaucratic hurdles.

"Our focus as of today is making sure that the 21 races next year is everything as it can be," continued Carey.

"But there are places around the world that present us with great opportunities for us to grow the sport overtime and certainly a country like India with the success and the growth it has had in recent years, makes it an exciting opportunity down the road.

"We have interest from many countries around the world for races in the future. We are pretty full schedule right now. But Asian in general is tremendously important. We have talked about the opportunity to grow the sport in Asia as well as the Americas. It is truly a unique opportunity for us to reach out to new fans around the world," Carey added.