India has witnessed the arrival of two major motorsport events in the year 2023. The first was held in February, the Hyderabad ePrix for Formula E. The second was the MotoGP, recently held at the Buddh International Circuit in Greater Noida. These momentous events have reignited the discussion surrounding the return of Formula One to the Yamuna Expressway – YXP in the foreseeable future. The impact of the MotoGP was enormous and has become one of the most significant sports events to be recently held.
MotoGP: An Enthusiastic Event
The recent MotoGP Bharat event was held September 22–24 at the Buddh International Circuit in Greater Noida. The event was a tremendous success and attracted a massively enthusiastic crowd. The race has resulted in extensive footfall in the area, and the aim is to bring back F1 to the Yamuna Expressway – YXP.
A Prestigious Event
All three MotoGP, Moto2, and Moto3 classes were featured in this event, creating a tough competition. Ultimately, Italian racer Marco Bezzecchi secured the winning title. The hosting of this event was a landmark moment for India, marking the return of such a prestigious event after the 2013 Formula 1 Indian Grand Prix. Various issues in the past, including financial, taxation, and bureaucratic challenges, resulted in the event’s cancellation.
The Evolving Landscape
However, the landscape has evolved following the MotoGP event, which indicated a strong commitment to the motorsport scene in the country. With the successful launch of the MotoGP race, F1 promises exceeding results for the country’s economy and sectors like real estate.
The event has not only caught the eye of sportsmen locally and internationally but of investors as well. Along with such races planned to be held at the Noida – YXP, projections of enhanced development in the sector also continue to skyrocket.
The government also took initiatives to ensure the event remained eco-friendly. The bikes in the race used 30% ethanol, which was a commendable effort. The Chief Minister of Uttar Pradesh commented that reducing the carbon footprint was also an aim for this event.
MotoGP is anticipated to bring an approximate business turnover of Rs. 100 million. The initiative of investment is to revolutionize the racing event in the country. After the successful launch of MotoGP, India is to embrace the unique transformation it has to bring. This grand opportunity will give the country a bright future and open doors for international investments. After such events, renowned brands are more keen on setting up along the Yamuna Expressway – YXP, and surely MotoGP will be an added incentive.
Statement By The Officials
The Chief Operating Officer, Pushkar Nath Srivastava, boosted the event’s significance with his presence. He is the visionary behind the MotoGP in India and addressed the economic impact of this event. He said this event generated 106 million euros in economic activity, including an investment of Rs 50 crore in track development and infrastructure.
The plan is to have similar results and economic activity with F1. MotoGP has fostered economic growth, grassroots development, and corporate collaboration, reshaping the country’s sporting scene in the coming years.
The President of the Federation of Motor Sports Clubs of India (FMSCI), Akbar Ebrahim, has responded to MotoGP’s development impact and stated the event has fortified the country’s racing culture, enhanced manufacturer participation, and boosted national championships.
Efforts Behind The Return of F1
Senior officials at the Yamuna Expressway Industrial Development Authority (YEIDA) have unveiled talks about an upcoming reintroduction of Formula One racing by 2025 at the Buddh International Circuit (BIC). The confirmation of these efforts has been reported directly by Arun Vir Singh, the CEO of YEIDA. He anticipates discussions with organizers in the foreseeable future. Also, he envisioned a scene for MotoGP and Formula One to be hosted at BIC annually to make a significant achievement.
Promoting Global Automobile Investments in UP
Uttar Pradesh has exceptional potential for sports activities, which is why the state government is effortlessly trying to promote this sector. After the MotoGP event in Greater Noida, Chief Minister Yogi Adityanath said many representatives of renowned domestic and multinational companies came forward ahead of the main race.
More than one lakh tickets were sold for this high-pulsating motorcycle race’s maiden show. Around 275 national and international brands were associated with this event, such as Petronas, BMW, Amazon, Tissot, Michelin, Red Bull, Shell, etc. This race has highlighted an unparalleled chance for brand promotion, which can also be expected if F1 returns to YXP – Noida.
Huge Attraction For Future Investment Opportunities
Organising MotoGP races has helped explore the potential for increased investment in this sector and the country. The event has many automobile investments backstage. As more such events are to be seen, the sector will become an attraction for the global automobile industry. The government is wholly committed to exploring such opportunities.
This includes Prime Minister Narendra Modi, who supports the development of sports and sportspeople.
As an international sporting event, MotoGP would draw visitors worldwide. As anticipated, if this racing event were to return to the Yamuna Expressway – YXP, it would likely enhance tourism in the area. This expansion would assist the local economy while increasing demand for commercial property for sale – YXP, such as hotels, restaurants, and retail space.
Adding more value to the region, ACE Group is coming soon to YXP – Yamuna Expressway. ACE is renowned for their exceptional residential and commercial projects that deliver dream projects to satisfied customers. Their projects with remarkable infrastructure and amenities are a combination of innovation and excellence that have taken the Noida real estate market to new heights.
Furthermore, the MotoGP race necessitates major infrastructure investments, such as roads, bridges, and parking facilities. If this event were to return in 2025, investments to improve this region would enhance the overall infrastructure. This would render the neighbourhood more appealing to businesses and inhabitants, potentially increasing demand for real estate.
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