Prime Minister Narendra Modi on Monday welcomed the peace agreement reached between the United States and Iran, hoping that it will “help restore peace” and “ensure the freedom of navigation”. The agreement, which was reached to end their war and reopen the Strait of Hormuz, is due to be signed in Switzerland on June 19.PM Modi said that he welcomed the peace deal on ending the conflict in West Asia. (PMO/File Photo)Although the arrangement remains a framework at this stage, it still is the biggest progress towards ending a conflict that has claimed thousands of lives and disrupted global energy markets since it began after joint US-Israeli strikes on Iran in February.Follow US-Iran war live updates here.The reopening of the strait is also expected to ease concerns across Asia, which relied on about 90% of the oil transported through the key waterway before the conflict began.Modi welcomes US-Iran dealIn a statement posted on X, the prime minister said that he welcomed the peace deal on ending the conflict in West Asia “which has caused serious economic disruption across the world and led to loss of life in many countries.”He hoped that the implementation of the agreement would help “help restore peace and stability in the region and ensure the freedom of navigation and commerce.”“We look forward to deliberations on the remaining issues reaching a sustainable final agreement,” he added.US, Iran agree to peace deal, signing on June 19The United States and Iran reached an initial agreement early on Monday to reopen the Strait of Hormuz and extend a fragile ceasefire in the US-Iran conflict.Mediator Pakistan was the first country to announce the agreement as Prime Minister Shehbaz Sharif said that “both sides have declared the immediate and permanent termination of military operations on all fronts, including in Lebanon.”He said mediators would hold meetings this week to “lay the foundation for the technical talks.”US President Donald Trump later confirmed that an agreement had been reached and said he had approved an end to the US naval blockade of Iranian ports in the Strait of Hormuz."Congratulations to all!" he wrote on social media, without giving further details. He added, “Ships of the World, start your engines. Let the oil flow!”It remains unclear who will represent Iran at the signing ceremony on Friday. US vice president JD Vance told Fox News that the White House was still deciding who would attend. “I certainly plan to be there, but it’s possible the president himself could be there,” he said.Iran's deputy foreign minister, Kazem Gharibabadi, also confirmed the agreement on state television but said Tehran would begin implementing it only after it is formally signed on Friday. He said the breakthrough followed discussions involving Qatar, which acted as a mediator.With inputs from agencies