The Tata brand announces a sponsorship deal between Ferrari F1 team and Tata Consultancy Services. Tata will join Marlboro, Shell, Alice, Acer, AMD, Etihad Airways and Martini as team partners for the 2009 season.

“It’s historic! For the first time an Indian brand will appear on the Ferrari,” president Luca di Montezemolo stated in the Italian media. TCS has been a technology partner of Ferrari Formula One since 2005 providing software.

This sponsorship deal comes at a time when Formula One has announced a series of cutbacks to ease financial pressures, which were highlighted by Honda pulling out from the sport earlier in December, but also illustrates the attraction of F1 on the back of the recent LG deal. www.business-standard.com