Prime Minister Narendra Modi and US President Joe Biden, in their telephonic conversation on February 14, lauded the "landmark" deal inked between American aerospace major Boeing and Indian carrier Air India for the supply of 220 aircraft.
"The leaders welcome the landmark agreement between Air India and Boeing as a shining example of mutually beneficial cooperation that will help create new employment opportunities in both countries," a press release issued by the Indian government said.
As per the deal announced by Air India, the airline will purchase 190 narrow-body 737 MAX jets and 30 widebodies -- 20 of the Boeing 787, and 10 Boeing 777Xs. The first batch of the order will be delivered in the second half of 2023, the Tata group-controlled carrier said in a statement.
Separately, the White House also confirmed the signing of the Air India-Boeing deal. "The 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," it quoted Biden as saying.
This announcement reflects the "strength of the U.S.-India economic partnership", Biden further said, adding that "together with Prime Minister 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".
US firms invited
As per the Indian government's release following Modi and Biden's phone conversation, the former has invited Boeing and other American companies to "make use of the opportunities" arising due to the expanding civil aviation sector in India.
Modi, the release said, expressed satisfaction at the "deepening" of the India-U.S. Comprehensive Global Strategic Partnership, "which has resulted in robust growth in all domains".
The two leaders also welcomed the first meeting of the initiative on Critical and Emerging Technologies (iCET), held recently in Washington, and "expressed a keen desire to strengthen bilateral cooperation in space, semi-conductors, defence and other spheres".
Biden and Modi also agreed to bolster the "vibrant and mutually beneficial people-to-people ties between the two countries", the release said, further adding that both the heads of states agreed to remain in contact during India’s ongoing G20 Presidency to "ensure its success".
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.