Boeing Co is in talks with airlines Jet Airways and Air India about the sale of its 737 MAX jets, a Boeing executive told Reuters on Thursday, as the aircraft manufacturer raised its forecast for demand in India.

Boeing now expects India's commercial aviation fleet to grow more than five times in size over the next 20 years, with demand for 1,600 new airplanes valued at $205 billion.

This is an increase from a Boeing forecast last year of 1,450 new airplanes worth $175 billion. Rival Airbus said on Thursday India needs 1,290 aircraft — 73 per cent of them additions — worth more than $190 billion in the next 20 years.

Dinesh Keskar, senior vice-president of sales for Asia-Pacific at Boeing, said that the 737 MAX planes are 14 per cent more fuel efficient compared with its 737 planes, making them particularly attractive to Indian carriers hurt by high fuel costs.