President Barack Obama's administration is reportedly working on a deal to build fighter jets in India, as incoming US leader Donald Trump committed to retain American jobs, The Washington Post reported.

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Both Lockheed Martin and Boeing have reportedly presented their respective proposals to the Indian government to manufacture fighter jets including the F-16 Fighting Falcons and the F/A-18 Super Hornet in India as the country attempts to upgrade its aging fleet of planes from Russia.

Under the deal, Lockheed Martin proposed to move its entire production from Texas to India, making India the only country to produce F-16 in the world. Boeing, on the other hand, will build its own production site in the country as well. Of note, even though the US military no longer uses the F-16, several other countries are still buying it, News Max reported.

Meanwhile, both companies noted that their plans will not end to a net loss of American jobs. The estimated 300 employees will be reassigned to the same plant's F-35 line. Others could seek a position from the F-35 facility, while some could opt for retirement or attrition, a Lockheed official told The Post.

"I see this as a great opportunity for all parties involved," Randy Howard, Lockheed's director of business development, said. "It doesn't take jobs away from the U.S., it extends existing jobs, and not just for Fort Worth but for many other companies around the U.S. that build parts for the F-16."

Meanwhile, India in October wrote a letter to foreign missions and aerospace makers asking about single-engine fighter that could be domestically produce. India apparently intends to co-produce the fighter jets as part of its "Make in India" initiative. However, the country was quick to say that it has not started its selection process yet, when prompted to reveal further details.

TagsF-16 Falcon, Fighter Jets, china, India, F/A-18 Super Hornet, F-35 jets