Ormsby, the overnight joint-leader, matched his first-round effort of a five-under-par 67 on Friday for a total of 10-under-par 134, two strokes ahead of Singapore's Lam Chih Bing (69).
The 33-year-old mixed six birdies with a lone bogey on the ninth hole on a windy day at the Delhi Golf Course which saw 68 players make the weekend cut.
"Yes, I love motorsports and racing. But that just sucks up your money while golf gives you that, so I'll stay with golf anytime," Ormsby told the Asian Tour in a statement.
"There were lots of cross winds and it was tricky to try and keep them in the fairways.
"I just have to keep doing what I've been doing. My short game was fantastic today and hopefully that continues."
Local favourite S.S.P. Chowrasia (69) and Thai veteran Boonchu Ruangkit (68), who is looking to become the oldest winner on the Asian Tour at 56, stayed in touch at four strokes behind the leader.
Singapore's Lam, who lost his Asian Tour card last year, was putting his familiarity with the course to good use before hitting two consecutive bogeys on his last two holes.
"You can know the course very well but you still have to perform," Lam said. "I'm very happy to be where I am.
"It certainly wasn't easy out there today, I felt I played solid. It was a disappointing finish but three-under for today is a very good score."