Zoom An important new deal for the Ferrari team

Despite the global financial crisis, Ferrari has inked a new sponsorship deal with a car manufacturer.

The famous Italian Formula One team will add Tata, an Indian multinational, to its roster of backers in 2009, President Luca di Montezemolo told Italian media on Wednesday.

"For the first time an Indian brand will appear on the Ferrari," he said. "It's historic."

Tata was associated with the Indian driver Narain Karthikeyan's Formula One career, first with Jordan in 2005 and subsequently at Williams.

Ferrari later confirmed that deal is with Tata Consultancy Services, a leader in the field of Information Technology consultancy. TCS has been a partner of the Maranello firm since 2004, in the capacity of Official Supplier.

This new agreement means that the Tata logo will be present on the F1 cars for the next three years.

E.A, Source: GMM
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