MotoGP commercial rights owner Dorna Sports S.L. 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.

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 emission,” the event organisers said in a release.

Incepted in 1949, MotoGP is the world’s fastest motorcycle racing Championship and continues to draw in new fans and audiences around the globe. It is the world’s third most-watched sporting event after the Olympics & FIFA World Cup.

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