Air India to buy 220 Boeing aircraft for $34 billion, Joe Biden calls it 'historic deal'

United States President Joe Biden on Tuesday hailed Air India's decision to purchase over 200 aircraft from Boeing and called it a "historic agreement between Tata-owned airlines and Boeing.

Responding to the development, Biden said, "United States can and will lead the world in manufacturing. I am proud to announce today the purchase of over 200 American-made aircraft through a historic agreement between Air India and Boeing."

"This purchase will support over one million American jobs across 44 states, and many will not require a four-year college degree. This announcement also reflects the strength of US-India economic partnership," Joe Biden said in an official statement released by The White House.

Furthermore, Biden also asserted that together with Prime Minister Narendra Modi, he was looking forward to deepen the ties between India and the US.

According to reports, Air India will purchase as many as 220 planes from Boeing for USD 34 billion, with an option to buy 70 more aircraft that could take the total transaction value to USD 45.9 billion.

The Air India order is Boeing's third biggest sale ever in dollar value and second in terms of number of planes.