The companies, under the memorandum of understanding, intend to access markets jointly for products and platforms developed together by Boeing and TASL.
The collaboration, which is in line with the government's 'Make in India' initiative, will not only work in the domestic market but will also be for international markets, sources said.
The agreement was signed by Shelley Lavender, President of Boeing Military Aircraft and Sukaran Singh, managing director and chief executive officer of TASL.
"This agreement with TASL is significant because it demonstrates Boeing's commitment to expanding its aerospace manufacturing footprint in India," Lavender was quoted as saying in a Boeing statement.
"As we step into our 100th year in business, a new aerospace partnership with India is the perfect milestone to accelerate the momentum we have generated for making in India," said Pratyush Kumar, president for Boeing India.
"It is noteworthy that TASL will produce Chinook helicopter parts in India even before the procurement contract is signed with the Indian government," he said.
S Ramadorai, Chairman of TASL, said this gives them an opportunity to explore the massive potential in India for aerospace manufacturing and make the investments required to grow the industry.
Other Tata group companies - Tata Advanced Materials Ltd (TAML) and TAL Manufacturing Solutions (TAL) - are also supplying important components to Boeing.
TAML has delivered power and mission equipment cabinets and auxiliary power unit door fairings for the P-8I long range maritime surveillance and anti submarine warfare aircraft.
TAL has provided ground support equipment for the C-17 Globemaster III strategic airlifter.