The $100 million investment in infrastructure and programs to train pilots in India has been announced by Boeing Co BA.
Prime Minister Narendra Modi made the announcement on the heels of his visit to the United States.
Boeing's investment will be used to support India's requirement for 31,000 new pilots over the next 20 years.
The aircraft maker also said it has completed a C - 17 aftermarket support facility and a new parts logistics center in India to make it a regional maintenance hub.
The visit of the Indian Prime Minister to the United States has resulted in a bunch of technology collaborations between the two countries, which was released in a White House statement.
Both India and the U.S. are working together to establish cooperation in semiconductor supply chains, critical minerals, advanced telecommunications, Quantum, Advanced Computing, and Artificial Intelligence along with defense and sustainable development.
The Dow Jones closed at 05% at $205.61 on Thursday.