New Delhi, Sep 21 (IANS): In a significant boost for motorcycle racing in India, the country will be hosting a maiden MotoGP World Championships race, labelled as 'Grand Prix of Bharat', at the Buddh International Circuit (BIC) in Greater Noida next year.

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.