Red Hat Dev Spaces - Unable to import workspace from Git repo

Issue

When creating a workspace from a devfile in gitrepo by importing from the git (bitbucket), getting below error:

Failed to resolve a devfile. Failed to request factory resolver: Error occurred during creation a workspace from devfile located at https://bitbucket.org/<folder_name>/<test_file>.git. 
Cause: Neither of apiVersion or schemaVersion found. This is not a valid devfile.