India will stage a MotoGP race for the first time in 2023, organisers said on Friday, at the same track that once hosted Formula One.

The race is scheduled to take place at Buddh International Circuit in Uttar Pradesh, to the south of New Delhi.

The track has already played host to Formula One, staging three F1 Grands Prix between 2011 and 2013.

“We have a lot of fans in India and we’re excited to be able to bring the sport to them,” Carmelo Ezpeleta, chief executive of MotoGP organisers Dorna, said in a statement.

India represents a key market to expand the sport, organisers said, citing a population of 1.4 billion people and more than 200 million motorcycles.

“It’s a matter of great pride for Uttar Pradesh to host such a global event,” Yogi Adityanath, Uttar Pradesh chief minister, said.

Indian authorities hope the event will boost foreign investment.