Doha, May 15: Qatar and the US signed here a series of deals to boost bilateral cooperation following a meeting between the two heads of state, according to a statement from the Emiri Diwan, the administrative office of the Qatari Emir.

The two sides on Wednesday signed a purchase agreement for Boeing aircraft, which is described by the White House in a fact sheet elaborating on some of the deals as a “historic” sale order worth $96 billion, with Qatar Airways’ acquisition of up to 210 Boeing 787 Dreamliner and 777X aircraft, Xinhua news agency reported.

Qatar and the US also signed a statement of intent on defence cooperation, outlining over $38 billion in potential investments, including support for burden-sharing at Al Udeid Air Base in Qatar and future defence capabilities related to air and maritime security.

In addition, two letters of offer and acceptance were signed, one for US General Atomics MQ-9B drones and the other for a counter-drone system developed by US defence firm Raytheon, with the US securing agreements valued at about $3 billion in total, according to the White House fact sheet.

A joint declaration of cooperation between the two governments was also signed.

Prior to the signing ceremony, Qatari Emir Sheikh Tamim bin Hamad Al Thani and US President Donald Trump held talks on a range of bilateral issues, with a particular focus on investment, energy, military, and security cooperation.

They also discussed regional and international developments, particularly those in the Middle East, with the Qatari Emir emphasising the importance of promoting peace and stability in the region.

The US President has thanked his Qatari hosts for having helped “negotiated the release of the last living American hostage in Gaza, Edan Alexander”.

“Hopefully, this is a stepping stone for getting the rest of the hostages back,” Trump said as he spoke at a state dinner in Lusail Palace.

Trump also revisited some of his usual talking points, speaking about his 2024 election success and reported increases in military recruitment in the US.

The meeting came during Trump’s visit to the Gulf state, part of his first major overseas tour since taking office in January — a trip that also includes stops in Saudi Arabia and the United Arab Emirates.

Mumbai, May 14: The Indian defence sector has witnessed a sharp rise in its market capitalisation, gaining an impressive Rs 86,211 crore since the Pahalgam terror attack, which claimed 26 lives.

The bull rally began after the Indian armed forces launched ‘Operation Sindoor,’ a major precision strike on terrorist infrastructure in Pakistan and Pakistan-occupied Kashmir (PoK).

This operation, India’s largest tri-service action since the 1971 war, significantly boosted the confidence in defence stocks. Despite the heightened geopolitical tensions, shares of defence companies surged.

As a result, the Nifty India Defence Index, which tracks the performance of leading defence stocks, has gained 9.39 per cent since the start of the military action, a remarkable contrast to the 1.98 per cent increase in the benchmark Nifty during the same period.

Paras Defence and Space Technologies Limited led the rally, with its share price rising nearly 40 per cent since April 22. Garden Reach Shipbuilders and Engineers Limited followed closely, seeing a gain of more than 28 per cent, as per market data.

Mishra Dhatu Nigam Limited and Bharat Dynamics also posted strong performances, each rising over 26 per cent. Other notable performers include Data Patterns India and DCX Systems, both of which saw returns of over 20 per cent.

The surge in the sector has also been reflected in the market capitalisation contributions of major players. Bharat Electronics Ltd (BEL) has added Rs 23,683 crore to the sector’s market value, while Hindustan Aeronautics Ltd (HAL) and Bharat Dynamics have contributed Rs 21,654 crore and Rs 12,345 crore, respectively.

Other companies, such as Mazagon Dock Shipbuilders and Solar Industries, have also played a significant role in the overall market cap gain, contributing Rs 9,971 crore and Rs 6,859 crore, respectively.

Meanwhile, the domestic defence sector remained a standout performer on Wednesday, attracting consistent interest from investors even as broader markets faced some intra-day volatility.

New Delhi, May 14: The Confederation of All India Traders (CAIT), the apex body representing traders across the country, on Wednesday called upon Indian traders and citizens to completely boycott travel to Turkey and Azerbaijan in response to their open support for Pakistan.

Turkey received around 62.2 million foreign tourists in 2024, with approximately 300,000 tourists arriving from India alone. This marked a 20.7 per cent increase in Indian tourists compared to 2023.

Turkey’s total tourism revenue stood at $61.1 billion last year, with each Indian tourist spending an average of $972, amounting to a total estimated Indian expenditure of $291.6 million, according to data shared by CAIT.

The traders’ body said it has long been running a nationwide campaign to boycott Chinese products, which has had a considerable impact, and it now intends to extend this movement to Turkey and Azerbaijan.

The organisation will coordinate with travel and tour operators and other relevant stakeholders to intensify this campaign.

CAIT Secretary General Praveen Khandelwal emphasised a travel boycott by Indian citizens to Turkey and Azerbaijan, in protest against their support for Pakistan, could significantly affect the economies of these countries, particularly their tourism sector.

He stated that if Indian tourists boycott Turkey, the country could suffer a direct loss of approximately $291.6 million.

In addition to this, the cancellation of Indian weddings, corporate events and other cultural programmes would cause even further indirect economic losses, Khandelwal added.

Azerbaijan received about 2.6 million foreign tourists in 2024, of which around 250,000 were Indians. The average spending by an Indian tourist was 2,170 Azerbaijani Manat (AZN), which is approximately $1,276, leading to a total Indian contribution of roughly $308.6 million.

A boycott by Indian tourists could, therefore, result in a direct loss of this magnitude.

As Indians mainly visit Azerbaijan for leisure, weddings, entertainment and adventure activities, a large-scale decline could cause a noticeable economic slowdown in these sectors, said CAIT in its statement.

Thousands across the country have already cancelled their travel plans to these two countries while ticket booking platforms and travel operators have stopped bookings to these countries.

The Department of Tourism, Ankara, has urged Indian travellers to visit the country. “The vast majority of the local population is unaware of the conflict taking place between India and Pakistan, and it has no bearing on daily life or the tourism environment here,” it said in a statement.

According to Khandelwal, the economic pressure could force both Turkey and Azerbaijan to reconsider their policies towards India.