India may host a MotoGP race in 2023 after Dorna Sports, the organisers of MotoGP, signed a Memorandum of Understanding with Noida-based race promoters Fairstreet Sports to host races at the Buddh International Circuit for the next seven years.

While Dorna Sports did not specify when it will host a race in India, reports say that it has signed a provisional agreement to host a MotoGP race within two years. Race.com reported that the Indian GP will likely be held in July replacing the cancelled Finnish Grand Prix.

“India is a huge country and market, and an especially important one for the two-wheeled industry and MotoGP as a sport. The Championship has a huge fan base there and being able to hold a MotoGP event in India would be both an incredible spectacle for our fans at the same time as allowing us to continue to grow the sport in the region, which is hugely important for our all our partners and the manufacturers in particular given the hundreds of millions of two-wheeled vehicles on its roads,” Dorna CEO Carmelo Ezpeleta said.

“At MotoGP we are committed to our fans and aim to make the sport accessible to all, regardless of where they are, who they are or their economic status. Motorcycles are an incredible tool for transportation and in many areas of the world they drive society, providing economic mobility and powering families around the world. Racing in India would be a reflection of our commitment to open the doors to the sport as widely as we can, and would be and an important achievement for the Championship,” he added.

Stating that hosting a MotoGP event would be a matter of great pride for the state, Uttar Pradesh Chief Minister Yogi Adityanath said, “Our government will provide all the necessary support to make this event a huge success.”

This is not the first time an International Motorcycling Federation event has been scheduled to take place at the Buddh International Circuit. The Noida circuit was originally scheduled to host a round of the 2013 Superbike World Championship but was cancelled due to “operational challenges”.

The circuit also hosted three Formula One Grands Prix from 2011 to 2013 before being cancelled due to tax disputes with the UP government.

Race.com also reported that signing an agreement does not guarantee a race with the MotoGP failing to host races in Brazil, Wales, Finland and Hungary despite signing similar agreements in the past.