The US and Iran have reportedly agreed on a framework deal to end their 108-day conflict, expected to be signed on 19th June 2026 in Switzerland, paving the way for the reopening of the Strait of Hormuz.This development brings much-awaited relief for global trade, including India. The Strait is critical for India’s energy imports, with roughly 50% of crude oil, around 70% of LPG, and nearly 90% of LNG sourced through this route.On the export side, closure of the Strait had led to route diversion, transit delays, and higher logistics costs. Engineering exports to the WANA region, a key market, declined by 50% year-on-year in March 2026 and 8% during 2025–26 due to the geopolitical conflict, aacording to Engineering Export Promotion Council of India (EEPC India).The decline in exports to the WANA region continued to fall sharply in April 2026 as the Strait of Hormuz remained virtually closed for trade. During this period, the value of total engineering shipments to the region stood at $1.10 billion, down 18% over $1.34 billion in the same month last year.The demand in the WANA region has fallen mainly due to a decline in exports to the UAE and Saudi Arabia.Reopening of the Strait is expected to enhance India’s exports to WANA and beyond, ease oil and gas prices, reduce inflationary pressure, support the rupee, and create a more conducive trade environment.Commenting on the development, Pankaj Chadha, Chairman, EEPC India, said in a statement, “The reopening of the Strait of Hormuz following the US–Iran peace deal is a welcome development for global trade and India’s engineering exporters. It will reduce logistics disruptions and costs, improve export prospects to the WANA region, and support overall trade stability.”Chadha noted that while some of the key markets in the WANA region saw steep decline in engineering shipments from India in April this year, exports to Oman increased due to recently-signed India-Oman CEPA.While the US-Iran peace deal is expected to be signed on June 19 its successful implementation will be crucial for restoring trade flows in the Strait of Hormuz.