India on Friday welcomed Egyptian President Hosni Mubarak’s decision to step down and the commitment of the Supreme Council of the Armed Forces to ensure a peaceful transition of power in a time-bound manner.

“We welcome the decision of President Mubarak to step down in deference to the wishes of the people of Egypt,” External Affairs Minister S.M. Krishna said in a statement while reacting to the development in Egypt.

He said: “We also welcome the commitment of the Supreme Council of the Armed Forces to ensure a peaceful transition of power in a time-bound manner to establish and open a democratic framework of governance.”

Noting that India had traditionally close relations with Egypt, he wished the people of Egypt peace, stability and prosperity.

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