The gold and white car has been christened VJMO1 after Mallya and Dutch co-owner Michiel Mol, and Force India will make its debut when the Formula One season opens in Melbourne next month.
"I urge all the cricket-loving fans in India to support the new team. I promise that you will not be disappointed," said Mallya.
"The task ahead is challenging. It will need a lot of hard work, sweat and tears to make an impression.
"I urge all the cricket-loving fans in India to support the new team."
Force India team owner
"But I am sure with your blessing, prayers and good wishes, Force India will be on the podium when India hosts a race in 2010."
New Delhi, the Indian capital, has been provisionally awarded a Formula One race in 2010.
Big budget for first year
Italian Giancarlo Fisichella and Adrian Sutil of Germany will be the Force India drivers in the opening season with another Italian, Vitantonio Liuzzi, serving as the test driver.
Fisichella, a veteran of 196 Grand Prix races, was eased out of the Renault team at the end of the previous season to make way for former teammate Fernando Alonso, who moved from McLaren.
Sutil, who finished 19th with Spyker last season, will be the number two driver.
Mallya said a budget of $120 million had been earmarked for the team for the 2008 season.
India became hooked on Formula One when home-grown Narain Karthikeyan raced for the Jordan team in 2005 and test drove with Williams over the past two years.
The 18-race season in 2008 starts with the Australian Grand Prix from March 14 to 16 at the Albert Park circuit in Melbourne.