India will host its first Formula One race, in 2009, the Indian Olympic Association said Thursday.
A deal has been signed with the sport's commercial supremo Bernie Ecclestone to hold the race in the capital New Delhi, IOA President Suresh Kalmadi said.
"We have received a letter in this regard from Bernie Ecclestone, CEO of Formula One," Kalmadi told reporters.
"The IOA will be the promoter, the first event of which will be held in 2009."
Ecclestone has said in the past year that India was one of the future markets for motorsport after Indian racer Narain Karthikeyan drove for Jordan in the 2005 season.
"India is a country that is probably going to grow quicker than China," Ecclestone said in London in November.
The IOA will build a F1 track and a brand new stadium in New Delhi in time to hold the race, Kalmadi said.
New Delhi is also due to host the Commonwealth Games in 2010.
There has been heightened interest in F1 racing in India after Karthikeyan hit the tracks backed by huge Indian sponsorship. The 29-year-old did not race in 2006 but is signed up with Williams as a test driver.