IAF chief Arup Raha and Army Chief Dalbir Singh Suhag were also present at the ceremony.
Earlier in the day, PM Narendra Modi had also saluted the Air Force personnel on the occasion saying they are the country's "pride" and their "dedication continues to inspire".
The IAF in 2010 gave wings to Master Blaster Sachin Tendulkar by conferring him with an honorary rank of Group Captain.
Ahead of the facilitation, the ace batsman had to go through a process of familiarisation with the IAF and training in basic military practices.
Tendulkar is the first sports person to ever be conferred a rank by IAF and the first personality with no aviation background to get this honour. The master blaster was also named the brand ambassador for the force.
The Indian Air Force was officially established on October 8, 1932 when it was created as an auxiliary air force of the Indian Empire.
An air display by various aircraft will form a part of the Air Force Day parade - Investiture Ceremony.
The areas over which aircraft were scheduled to fly at low levels are Wazirpur bridge -Karwalnagar-Afjalpur-Hindan, Shamli-Jiwana-Chandinagar-Hindon, Hapur-Philkua-Ghaziabad-Hindan.