Biden to announce $34 Billion Deal Between Boeing and Air India

U.S. President Joe Biden is poised to make an announcement that Air India has made a deal with Boeing for a staggering 200-plus aircraft, marking the third-largest sale in the storied aircraft manufacturer's history. As tensions build between other countries and China, India is expected to remain the fastest growing major economy in the world.

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.