New Delhi | Prime Minister Narendra Modi spoke with US President Joe Biden on Tuesday and the two leaders hailed 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.

According to an announcement by the White House, Boeing and Air India have reached an agreement under which the airline will purchase 220 planes from Boeing -- 190 B737 MAX, 20 B787, and 10 B777X -- for USD 34 billion.

There will be an option to buy 70 more aircraft that could take the total transaction value to USD 45.9 billion.

Prime Minister Modi had a "warm and productive" phone call with US President Biden, a statement issued by the Prime Minister's Office (PMO) said.

The two leaders expressed satisfaction at the deepening of the India-US Comprehensive Global Strategic Partnership, which has resulted in robust growth in all domains, the PMO said.

Prime Minister Modi and President Biden welcomed the announcement of 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", the statement said.

Modi invited Boeing and other US companies to make use of the opportunities arising due to the expanding civil aviation sector in India.

The two leaders welcomed the first meeting of the initiative on Critical and Emerging Technologies (iCET) held recently in Washington DC, and expressed a keen desire to strengthen bilateral cooperation in space, semi-conductors, supply chains, defence co-production and co-development and knowledge and innovation ecosystems, the PMO said.

They agreed to bolster the vibrant people-to-people ties between the two countries, which have been mutually beneficial, it said.

The two Leaders agreed to remain in contact during India's ongoing G20 Presidency to ensure its success, the statement said.