Jan.11 (GMM) Force India will get a $50 million budget boost in 2008, new team co-owner Vijay Mallya revealed on Thursday.

At the launch of the acquired and re-branded team in Mumbai, Indian billionaire Mallya divulged that Force India's inaugural budget this season will be $120m in total, compared with struggling Dutch predecessor Spyker's $70m spend in 2007.

"Make no mistake, we are not going to win a race or get a place in the podium," Giancarlo Fisichella, who switches from Renault to drive for the Silverstone based team in 2008, told the Indian news agency PTI.

"But with an increased budget, we will strive for the best possible result and from the back on the grid, we can definitely become a midfield team," he said.

Fisichella's teammate Adrian Sutil, meanwhile, who made his F1 debut for Spyker last season, said Force India's 2008 budget is not set in stone.

"Dr Mallya said that if there is extra money required he will not hesitate to spend it," the young German told F1's official website.

"It's a palpable increase in professionalism," Sutil added.