President Biden announced Tuesday a massive aircraft purchase agreement between Air India and Boeing, touting the deal as part of his pledge to return the U.S. to its position as a global manufacturing leader.
Under the new agreement, Boeing will field 190 737 Max airliners, 20 787s and 10 777Xs valued at $34 billion. The agreement includes options for additional purchases of 50 737 Max jets and 20 787s for a total of 290 airplanes valued at $45.9 billion.
The agreement marks the third largest sale by dollar value in Boeing’s history.
“The United States can and will lead the world in manufacturing,” Mr. Biden said. “This purchase will support over one million American jobs across 44 states, and many will not require a four-year college degree.”
The deal follows last month’s launch of a joint U.S.-India initiative to expand the two countries’ partnership on developing critical emerging technology.
“Together with Prime Minister [Narendra] Modi, I look forward to deepening our partnership even further as we continue to confront shared global challenges — creating a more secure and prosperous future for all of our citizens,” Mr. Biden said.
Air India will also purchase 250 airplanes from French manufacturer Airbus, locking in a total of 470 jets as the formerly state-run carrier eyes skyrocketing growth in India’s domestic passenger market.