Talks have already got underway between the two sides, with India keen to capitalise on the growing trend of staging races outside of Europe, and thereby avoiding pressures of tobacco bans.
Ecclestone has already hinted that he would like a race to take place in India and plans are afoot for a track in Hyderabad.
Local Formula Three racing hero Narain Karthikeyan has lent his support for the track, and will join the government delegation in Monza for the meeting with the Formula One supremo.
Indian state chief minister Chandrababu Naidu will lead the team to discuss what the requirements for staging a Grand Prix are and the costs and facilities expected.
The minister is expected to invite Ecclestone to visit Hyderabad during the Afro-Asian Games to visit the region and judge its suitability.
