New Delhi, Sep 21 (PTI) In a significant boost for the stagnant Indian motosport scene, the country will be hosting a maiden MotoGP World Championships race, labelled as 'Grand Prix of Bharat', at the Buddh International Circuit in Greater Noida next year.

MotoGP commercial rights owner Dorna and Noida-based race promoters Fairstreet Sports on Wednesday signed a Memorandum of Understanding (MoU) to host the premier two-wheel racing event in India for the next seven years.

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Riders from as many as 19 countries will participate in the event, which will give a major push to trade and tourism in the country, besides generating employment.

"MotoGP also has plans to also introduce MotoE into the Indian racing scenario which will not only be a first in Asia but a significant green initiative with net zero carbon emisson," the promoters of the event said in a release.

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The Buddh International Circuit, which will be hosting the MotoGP race, was once home to the Formula 1 Indian Grand Prix, held for three consecutive years from 2011 till 2013, before it was discontinued due to financial, tax and bureaucratic hurdles.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)