What’s going on:
President Joe Biden is set to announce that Air India has placed an order for over 200 planes from Boeing, marking the third-largest sale in the aircraft manufacturer’s history.
With a list price of $34 billion, the deal will generate over one million jobs across 44 states, many of which do not require a four-year college degree.
Why it matters:
“This announcement also reflects the strength of the U.S.-India economic partnership,” Biden wrote.
Production of three separate U.S.-based manufacturing lines could result in a massive $70 billion economic impact and generate an estimated 1.47 million jobs, a White House official said.
How it’ll impact the future:
Amidst rising tensions with China, India has gained some of the manufacturing business. If this momentum continues, India has the potential to become only the third country to achieve a GDP worth $10 trillion by 2035, as predicted by the Centre for Economics and Business Research.
By working with India, the U.S. is also creating more jobs for itself.
