India welcomes Mubarak's decision to step down

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 SM 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.